Hi, for Q1 (a) sample answer, I have come across the spot cross rates of 0.70 - 0.74 ARD per JPY. Please may I know whether the spot cross rates is in the AFM syllabus, since I haven't seen this in the AFM workbook & revision kit (BPP)?
Thank you.
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Past year paper (7 Sept 2018)
4y ago#1It is examinable, but does not require any special learning.
1 EUR buys 92.7 ARD, and 132.4 JPY will buy 1 EUR
Therefore 132.4 JPY will buy 92.7 ARD
Therefore 1 JPY will buy 92.7/132.4 = 0.70 ARD
It is the same logic for the other rate :-)
Oh, now I understand. Thanks a lot! :)
4y ago#3You are welcome.
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