You've just been put in charge of the Thomas Cook Foreign Exchange kiosk at JFK Airport T4 Your responsibilities are to exchange physical foreign currency for clients travelling to and from abroad. You do this commission free, but with a hefty Bid-Ask spread to make up your profit. HALF of the result of the day's transactions, Marked to Market to the closing Mid-rate of the day, are yours to keep, minus $25/day rent you need to pay the corporation. The revaluing of the open and ending position belongs to Thomas Cook and you do not bear this risk, but they do. 1 You DO NOT exchange foreign coins, so you clearly post the minimum denomination of foreign currency that you are able to pay/receive. Today you open with the following amounts of Thomas Cook currency in your safe and till, and the going rates are supplied by the corporation: FX amounts at the kiosk: Exchange Rate for the Day: Minimum Denomination: USD $1,000 GBP 5,000 $1.28-$1.36/ 5 EUR 5,000 $1.15-$1.25/6 5 JPY 500,000 110 - 120/$ 1,000 MXP MXP 100,000 MXP 18 - MXP 23 / MXP 100 TATTOO Day's Proceedings: A business traveler back from Tokyo exchanges 43,000 leftover he had from his trip A couple on their honeymoon to Cancun purchases MXP 50,000 A family going to see the Louvre exchanges $1,000 for the currency they will need I Coming back from London, a young student trades in 440 A Baseball team going back home to Japan gets rid of as much as they can of their $530 beer fund A Travelling Mariachi band just landed and are looking to exchange MXP 9,000 for USD Two Manchester United supporters going abroad to watch a game need 500 for "incidentals" before the game An Italian Male Model coming over to shoot a Perfume TV ad, wants to exchange 500 into USD Assuming the following End-of-Day Mid closing rates: $1.30/; $1.21/; X 114 /$; MXP 20 /$ 1) How much did you make today? I 2) How much did the Thomas Cook Corporation make today? You've just been put in charge of the Thomas Cook Foreign Exchange kiosk at JFK Airport T4 Your responsibilities are to exchange physical foreign currency for clients travelling to and from abroad. You do this commission free, but with a hefty Bid-Ask spread to make up your profit. HALF of the result of the day's transactions, Marked to Market to the closing Mid-rate of the day, are yours to keep, minus $25/day rent you need to pay the corporation. The revaluing of the open and ending position belongs to Thomas Cook and you do not bear this risk, but they do. 1 You DO NOT exchange foreign coins, so you clearly post the minimum denomination of foreign currency that you are able to pay/receive. Today you open with the following amounts of Thomas Cook currency in your safe and till, and the going rates are supplied by the corporation: FX amounts at the kiosk: Exchange Rate for the Day: Minimum Denomination: USD $1,000 GBP 5,000 $1.28-$1.36/ 5 EUR 5,000 $1.15-$1.25/6 5 JPY 500,000 110 - 120/$ 1,000 MXP MXP 100,000 MXP 18 - MXP 23 / MXP 100 TATTOO Day's Proceedings: A business traveler back from Tokyo exchanges 43,000 leftover he had from his trip A couple on their honeymoon to Cancun purchases MXP 50,000 A family going to see the Louvre exchanges $1,000 for the currency they will need I Coming back from London, a young student trades in 440 A Baseball team going back home to Japan gets rid of as much as they can of their $530 beer fund A Travelling Mariachi band just landed and are looking to exchange MXP 9,000 for USD Two Manchester United supporters going abroad to watch a game need 500 for "incidentals" before the game An Italian Male Model coming over to shoot a Perfume TV ad, wants to exchange 500 into USD Assuming the following End-of-Day Mid closing rates: $1.30/; $1.21/; X 114 /$; MXP 20 /$ 1) How much did you make today? I 2) How much did the Thomas Cook Corporation make today