Question

# The following are quotes from a currency dealer in the New York currency market: Currency Spot...

The following are quotes from a currency dealer in the New York currency market:

 Currency Spot quote Australian dollar (AUD/USD) 0.7832 - 0.7834 Brazilian real (USD/BRL) 3.2335 - 3.2365 British pound (GBP/USD) 1.3507 - 1.3509 Canadian dollar (USD/CAD) 1.2555 - 1.2557 Euro (EUR/USD) 1.1948 - 1.1949 Japanese yen (USD/JPY) 111.44 - 111.45 Mexican peso (USD/MXP) 19.3653 - 19.3718 New Zealand dollar (NZD/USD) 0.7181 - 0.7184 Thai baht (USD/THB) 32.1240 - 32.1430 Egyptian pound (USD/EGP) 17.6860 - 17.8460 South Korean won (USD/KRW) 1067.53 - 1069.53 Swiss franc (USD/CHF) 0.9789 - 0.9791

Using the quotes provided above, how many US dollars would a customer receive from this dealer in exchange for one million:

a. British pounds?

b. Thai baht?

c. Swiss francs?

d. New Zealand dollars?

(In these transactions, the customer is selling foreign currency and buying US dollars.)

 a. US Dollar received exchange for One million British Pound Spot rate for One pound = 1.3507 USD One million British Pound = 1.3507 Usd*1 million = 1.3507 million USD b. US Dollar received exchange for One million Thai Baht Spot rate for 1\$ = 32.1240 Thai Baht 1 Thai Baht ( 1\$/32.1240) \$0.03 One million Thai Bhat = 0.03 Usd*1 million = USD 0.03 million c. US Dollar received exchange for One million swiss Frane Spot rate for CHF1 = \$0.98 CHF 1 million = \$0.98*1 million = \$0.98 million d. US Dollar received exchange for One million New Zealend dollar Spot rate for NZD1 = \$0.7181 NZD1 million = \$0.7181*1 million = \$0.7181 million

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