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You are given the following spot quotes on the same pair of currencies in two different markets from two different brokers: Quotes for the Indian

You are given the following spot quotes on the same pair of currencies in two different markets from two different brokers:

Quotes for the Indian Rupee against the Chinese Yuan: 0.0925 0.0975

Quotes for the Chinese Yuan against the Indian Rupee: 10-12

  • Which market would you use of you want to SELL Indian Rupees?

  • Which market would you use if you want to BUY Indian Rupees?

  • The first pair of quotes could be made in which country?

  • The second pair of quotes could be made in which country?

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