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Calculate the current exchange rate AUD/GBP, given these two quotes:AUD/USD 0.5640-50GBP/USD 1.5850-60Question 4Select one:a.AUD/GBP 0.3558-62b.AUD/GBP 0.3556-65c.AUD/GBP 0.8945-55d.AUD/GBP 0.8939-45

Question

Calculate the current exchange rate AUD/GBP, given these two quotes:AUD/USD 0.5640-50GBP/USD 1.5850-60Question 4Select one:a.AUD/GBP 0.3558-62b.AUD/GBP 0.3556-65c.AUD/GBP 0.8945-55d.AUD/GBP 0.8939-45

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Solution

To calculate the AUD/GBP exchange rate, you need to divide the AUD/USD rate by the GBP/USD rate.

Step 1: Take the AUD/USD rate. The quote given is 0.5640-50. This means the bid price is 0.5640 and the ask price is 0.5650.

Step 2: Take the GBP/USD rate. The quote given is 1.5850-60. This means the bid price is 1.5850 and the ask price is 1.5860.

Step 3: Divide the AUD/USD rate by the GBP/USD rate.

For the bid price: 0.5640 / 1.5860 = 0.3556 (approximately)

For the ask price: 0.5650 / 1.5850 = 0.3565 (approximately)

So, the AUD/GBP exchange rate is approximately 0.3556-65.

Therefore, the correct answer is b. AUD/GBP 0.3556-65.

This problem has been solved

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