Please help me with this problem. Suppose the spot direct quotes for the pound sterling and euro

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Please help me with this problem.

Suppose the spot direct quotes for the pound sterling and euro are $1.3981-89 and $.1230-33, respectively. What is the direct quote for the pound in Paris?

I only got this far:

Ask rate = 1.3981 *(1/.1230) = 11.3667

Bid rate = 1.3989*(1/.1233) = 11.3455

Answer is 11.3455-67, but this is not the answer. I am told the answer is 1.1339-73

Posted Date: May 18, 2024 08:03 PM

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Please help me with this problem. Suppose the spot direct quotes for the pound sterling and euro

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