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2. Suppose the direct quote for sterling in New York is 1.3805 (please notice that this is a mid- rate derived from the mid-point between the buy and sell transactional rates from global currency markets). How much would 500,000 British pound cost in New York using mid-rate? What is the direct quote for dollars in London using mid-rate?

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Answer #1

SoJulin $ 690,250 nett-qu악e ter dollar in London can be caludald 1CaYn New york ー-0. 244 1.3805

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