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Cross rates

A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for the 4.89 Israeli shekels or for 108.76 Japanese yen. Determine the cross-exchange rate between yen and shekel; that is, how many yen would you receive for every shekel exchanged? Round your answer to the nearest sen. Note: A sen is 1/100th of a yen.

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Category:- Basic Finance
Reference No.:- M91145427

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