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Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977

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BuyFindarrow_forward

Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977
Textbook Problem

CROSS RATES Suppose the exchange rate between the U.S. dollar and the Swedish krona was 6 65 krona = $1, and the exchange rate between the dollar and the British pound was £1 = $1 67. What would be the exchange rate between Swedish kronas and pounds?

Summary Introduction

To determine: The exchange rate among Swedish kronas and pounds.

Introduction:

Cross Rates: Cross rate is the exchange rate among any two currencies.

Explanation

Compute the exchange rate between Swedish kronas and pounds

Given,

1$ is equals to 6.65 krona.

1 pound is equals to $1.67.

6.65 krona=(11.67)pound

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