Mathematics · Foreign Exchange Arithmetic
A firm needs to execute two cross-currency merchant transactions: a payment of 500,000 JPY and a receipt of 200,000 GBP. The current interbank market rates are: USD/INR = 83.50 / 83.52 GBP/USD = 1.2750 / 1.2760 USD/JPY = 149.20 / 149.30 Ignoring exchange margins, calculate the total INR cost for the JPY payment and the total INR receipt for the GBP remittance.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1JPY Cost: 281,000; GBP Receipt: 21,250,000
- 2JPY Cost: 279,100; GBP Receipt: 21,280,000
- 3JPY Cost: 280,500; GBP Receipt: 21,300,000
- 4JPY Cost: 279,892; GBP Receipt: 21,292,500✓
Correct answer
JPY Cost: 279,892; GBP Receipt: 21,292,500
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