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Hello Sir
In the question, we need to calculate the exchange rates: ARD to JPY.
The question gives spot rates: JPY per EUR 1: 129.2-132.4 and ARD per EUR: 92.7-95.6.
The answer is:
Spot cross rates: 0·70 – 0·74 ARD per JPY 1 [92·7/132·4 = 0·70 and 95·6/129·2 = 0·74]Could you please explain how it works?
Thank you!
You can find an explanation in my previous post about this:
https://opentuition.com/topic/cross-rates-washi-sep-2018-kaplan-exam-kit/
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