.You are a dealer and are long of USD 4 million against CHF at

1.6612. You want to close this position because you expect the

dollar to weaken.

You therefore ask another bank for a USD/CHF price and are

quoted 1.6610/15. You decide that you will deal on this price.

You need to sell US dollars

2. You undertake three spot deals in USD/CHF as follows.

Sell USD 4 million at 1.6723

Buy USD 1 million at 1.6732

Buy USD 5 million at 1.6729

The market closes at 1.6730.

What is your position? What is the average rate of this position?

What is your net profit or loss?

3. The AUD/CAD rate is 0.7954/0.7959. What is the CAD/AUD

rate?

4. Given the following rates, what is the CAD/CHF rate?

USD/CHF 1.6348/53

USD/CAD 1.5497/02

5. Given the following rates, what is the GBP/NZD rate?

GBP/USD 1.4320/25

NZD/USD 0.4460/65

6. Given the following rates, what is the GBP/CHF rate?

GBP/USD 1.4320/25

USD/CHF 1.6348/53

7. Current spot rates are as follows:

USD/CHF 1.5384/89

USD/SGD 2.3895/05

EUR/USD 0.9678/83

AUD/USD 0.5438/43

(a) What is the two-way price for CHF/SGD? On which side of

this price would the customer sell SGD?