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A bank is quoting the following exchange rates against the dollar for the Swiss franc and the Australian dollar:
SFr/$ = 1.5960-70
A$/$ = 1.7225-35
An Australian firm asks the bank for an A$/SFr quote. What cross-rate would the bank quote?
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If one Swiss franc can purchase $0.85 U.S. dollars, how many Swiss francs can one U.S. dollar buy? Please show work.
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