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What will be the jpy by gbp ask rate

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Reference no: EM132564334

Centurion Bank gave the following quotes: St = 0.0104-0.0108 USD/JPY, and St 1.5670- 1.5675 USD/GBP. Centurion Bank wants to calculate the JPY/GBP cross-rates. The JPY/GBP bid rate is the price at which Centurion Bank is willing to buy GBP against JPY, i.e., the number of JPY units it is willing to pay for one GBP. This transaction (buy GBP-sell JPY) is equivalent to selling JPY to buy one USD -at Centurion's bid rate of (1/0.0108) JPY/USD and then reselling that USD to buy GBP -at Centurion's bid rate of 1.5670 USD/GBP.

Question i. What will be the JPY/GBP bid rate?

Question ii. What will be the JPY/GBP ask rate?

Reference no: EM132564334

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