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problem: Last day you picked up the Wall Street Journal & saw the following spot currency quotes:

                               In U.S. $                 per U.S. $

 

      Japan (Yen)      .010124                   98.775

 

      U.K. (Pound)    1.4036                     _____

 

Required:

[A] Fill in the missing number [Show you’re all calculations!).

[B] find out appropriate spot cross rate between the yen (¥ or JPY) & the pound (£ or GBP)?

[C] The Piggy Bank is currently quoting a spot rate of 140 yen per pound. Demonstrate how a British banker could use geographic arbitrage to profit from bank’s quote. Also find arbitrage profit per British Pound?

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922449

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