Suppose UBA gives the following quote for cedis per dollar: 3.89 4.10.

State the above quote as dollars per cedi.

b) Suppose GT Bank quotes the following spot rates: Kenyan shilling per cedi: KES 24.30 27.00 South Africa rand per cedi: ZAR 3.48 3.74 What should be the bid-ask quote for KES/ZAR?

c) You are expecting to receive $1,000,000 from a US client in 60 days which would be converted into cedis. The current spot rate of the dollar is 4.00/$ but the cedi is expected to depreciate over the 60-day period. If the cedi depreciates by 5%, what would be the amount receivable in cedis?