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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.
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