Question
Today, the exchange rate between the US dollar and Bananaland's currency is $1.000=BBB3.067, and between the US dollar and Cherryland's currency is $1.000=CCC6.679. Calculate the
Today, the exchange rate between the US dollar and Bananaland's currency is $1.000=BBB3.067, and between the US dollar and Cherryland's currency is $1.000=CCC6.679.
Calculate the implied cross-rate between Bananaland's and Cherryland's currencies, expressed as the amount of CCC per one unit of BBB.
Do NOT use units in your answer, and only put the numeric answer. Round your answer to FOUR decimal places, for example, 1.2345
Answer__________
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Corporate Finance Reader
Authors: Robert W. Kolb
2nd Edition
1878975536, 978-1878975539
