Question

At today’s spot exchange rates to one US dollar can be exchanged for 12 Mexican pesos...

At today’s spot exchange rates to one US dollar can be exchanged for 12 Mexican pesos or for 111.83 Japanese yen. Your pesos that you would like to exchange for yen. What is the cross rate between the yen and the pesos. That is how many Jan would you receive for every peso exchange?
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Answer #1

Given, 1 USD = 12 Mexican Pesos

1 USD = 111.83 Japanese Yen

=> 12 Pesos = 111.83 Yen

=> 1 Pesos = 9.32 Yen

Hence, For every Peso you would receive 9.32 Yen

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