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A currency trader observes that in the spot exchange market, one U.S. dollar can be exchanged for 10.875 Mexican pesos or for 6.205 Danish krone. What is the cross-exchange rate between the peso and the krone; that is, how many pesos would you receive for every krone exchanged?

a. 1.619 pesos/krone

b. 1.658 pesos/krone

c. 1.704 pesos/krone

d. 1.753 pesos/krone

e. 1.790 pesos/krone

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Financial Management, Finance

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