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Calculate the current exchange rate GBP/JPY, given these two quotes:USD/JPY 114.20-30GBP/USD 1.6750-60Question 3Select one:a.GBP/JPY 190.71-88b.GBP/JPY 191.29-57c.GBP/JPY 191.40-45d.GBP/JPY 192.07-24

Question

Calculate the current exchange rate GBP/JPY, given these two quotes:USD/JPY 114.20-30GBP/USD 1.6750-60Question 3Select one:a.GBP/JPY 190.71-88b.GBP/JPY 191.29-57c.GBP/JPY 191.40-45d.GBP/JPY 192.07-24

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Solution

To calculate the GBP/JPY exchange rate, we need to use the concept of cross rates. Here are the steps:

  1. First, we need to understand that the GBP/JPY rate can be calculated by multiplying the GBP/USD rate by the USD/JPY rate.

  2. The given rates are: GBP/USD = 1.6750-60 USD/JPY = 114.20-30

  3. We calculate the cross rates by multiplying the lower limit of GBP/USD with the lower limit of USD/JPY and the upper limit of GBP/USD with the upper limit of USD/JPY.

  4. Lower limit: 1.6750 * 114.20 = 191.285 Upper limit: 1.6760 * 114.30 = 191.5888

  5. Therefore, the GBP/JPY exchange rate is approximately 191.29-191.59.

So, the closest answer is option b. GBP/JPY 191.29-57.

This problem has been solved

Similar Questions

Calculate the current exchange rate AUD/GBP, given these two quotes:AUD/USD 0.5640-50GBP/USD 1.5850-60Question 4Select one:a.AUD/GBP 0.3558-62b.AUD/GBP 0.3556-65c.AUD/GBP 0.8945-55d.AUD/GBP 0.8939-45

If EUR/USD is 1.1226/31 and USD/JPY is 120.55/58, calculate the offer rate for EUR/JPY: Select one: a. 135.33 b. 135.42 c. 135.39 d. 135.36

Calculate the EUR/JPY spot rate using the following spot rates: EUR/USD: 1.1360 USD/JPY: 109.4818 (Round your answer to 2 decimal places)

If USD/JPY is 116.01 and EUR/USD is 1.1597, calculate the (correctly rounded) EUR/JPY rate: Select one: a. 100.0345 b. 134.54 c. 134.5368 d. 100.03

Using the EUR/USD and USD/JPY rates provided, select the correct EUR/JPY cross rate: EUR/USD: 1.1274 USD/JPY: 112.65 a. 127.0016 b. 127.00 c. 0.0100 d. 99.92

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