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7. An office of the home bank in another country, carrying out the same business as local banks, usually as subject to local and home banking regulations is: an agency office located abroad a subsidiary bank located abroad a foreign branch 8. Find the wrong statement regarding exchange rate and relative prices: Of an appreciation of a country's currency raises the relative price of its exports O' an appreciation lowers the relative price of a country's exports a depreciation raises the relative price of its imports 9. In Berlin, a donut costs 3.50 EUR. The same donut costs 6.20 SGD in Singapore. At an exchange