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Homework answers / question archive / CROSS RATE A currency trader observes that in the spot exchange market, 1 U
CROSS RATE A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.50 Israeli shekels or for 77 Japanese yen. What is the cross-exchange rate between the yen and the shekel; that is, how many yen would you receive for every shekel exchanged?
