Explain role of correspondent-respondent and bankers bank

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Reference no: EM132063410

1. If the exchange rate between the U.S. dollar and the British Pounds is $1.52 per Pound and the exchange rate between the U.S. dollar and the Israeli Shekel is 3.97 Shekels per dollar, then what is the Shekel per Pound exchange rate?

2. If the exchange rate between the U.S. dollar and the British Pound is $1.70 per Pound and the annual rate of inflation is 3.10 percent in the United States and 5 percent in Great Britain, what will be U.S. dollar per Pound exchange rate in one year? (Express your answer as XX.XX)

3. Explain the role of correspondent, respondent, and bankers' bank and how each relates to each other.

Reference no: EM132063410

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