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You are given the following foreign exchange quotations by a bank ( the quotes are per 1 NZD ) : Use the information above to

You are given the following foreign exchange quotations by a bank (the quotes are per 1 NZD):
Use the information above to answer the questions that follow.
(a) For a client, how much JPY could 1 million USD buy, at the spot?
Select one alternative
JPY 164,963,610
JPY 166,041,576
JPY 164,747,783
JPY 166,259,098
(b) For a client who is expected to receive 1 million GBP in six months, how much NZD could be bought using six-
month forward contracts?
Select one alternative
NZD 2,328,289
NZD 2.050,861
NZD 2,374,733
NZD 2,047,083
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