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Suppose the Japanese yen exchange rate is 118 = $1 and the British pound exchange rate is 1 = $1.43. Suppose the cross-rate is 141.3
Suppose the Japanese yen exchange rate is ¥118 = $1 and the British pound exchange rate is £1 = $1.43. Suppose the cross-rate is ¥141.3 = £1. If there is, what would be the profit of the ...
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