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09-07-2024
Business

Answered

An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.57, the euro rate is $1.48, the Canadian dollar rate is 0.74 Canadian dollar, and the Yen rate is 108 Yen. In London: the British pound rate is $1.61, the euro rate is $1.44, the Canadian dollar rate is 0.77 Canadian dollar, and the Yen rate is 110 Yen. If you were looking to buy Yen, where would you buy it?
A. New York
B. London
C. Either New York
D.London

Answer :

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