If the Direct Price of the Dollar Is 2

question 18

Multiple Choice

If the direct price of the dollar is 2.5 in Frankfurt and transaction costs are .4% of the amount transacted, then the minimum? maximum direct quotes for the DM in New York are:

• A) .3968?4032
• B) 2.4800?2.5200
• C) .3984?.4016
• D) 2.4900?2.5100

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