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A bank is quoting the following exchange rates against the dollar for the Swiss franc and...

A bank is quoting the following exchange rates against the dollar for the Swiss franc and the Australian dollar: SFr/USD = 1.56/8; AUD/USD = 1.75/7. An firm asks the bank for an SFr/AUD quote. What the cross-rate would the bank quote for the ask price (please round to 2 digit)?
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Answer #1
SFR / USD = 1.56 / 1.58
AUD / USD = 1.75 / 1.77
SFR / AUD =            0.88 / 0.90
(1.56/1.77) / (1.58/1.75)

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