Question

A currency trader observes the following quotes in the spot market:

1 U.S. dollar = 10.875 Mexican pesos

1 British pound = 8.750 Danish krone

1 British pound = 1.65 U.S. dollars

Given this information, how many Mexican pesos can be purchased for 1 Danish krone?

a. 1.8251

b. 1.8456

c. 2.4403

d. 2.1532

e. 2.0507

Answer

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