The Current Exchange Rate Is £1

question 22

Multiple Choice

The current exchange rate is £1.00 = $2.00.Compute the correct balances in Bank A's correspondent account(s) with Bank B if a currency trader employed at Bank A buys £45,000 from a currency trader at Bank B for $90,000 using its correspondent relationship with Bank B.

• A)Bank A's dollar-denominated account at B will fall by $90,000.
• B)Bank B's dollar-denominated account at A will rise by $90,000.
• C)Bank A's pound-denominated account at B will rise by £45,000.
• D)Bank B's pound-denominated account at A will fall by £45,000.
• E)all of the options

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