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Calculate the implied cross exchange rate

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Reference no: EM133115744

As a foreign exchange trader, you are presented on your computer terminal with the following three exchange rates posted by three different banks:

Bank A offers a spot rate of Indian Rupees (INR): INR 61.245-61.258/$ Bank B offers a spot rate of Danish Kroner (DKK): DKK 5.8701-5.8812/$ Bank C offers a spot rate of INR 10.3850-10.4005/DKK

Note: Assume there are 360 days in a year.

Required:

Calculate the implied cross exchange rate between INR and DKK.

Reference no: EM133115744

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