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How would you take advantage of this situation

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Question - Suppose that the pound is pegged to gold at £40 per ounce and the dollar is pegged to gold at $70 per ounce. This implies an exchange rate of $1.75 per pound. If the current market exchange rate is $1.80 per pound, how would you take advantage of this situation? Assume that you have $700 available for investment?

Reference no: EM132937346

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