Marks Question 5: Finance and globalisation (10 Marks] Show all your workings when calculations are required and round off your FINAL result to TWO decimal places. Write your answers in the spaces provided. You have just landed at Melbourne with 30,000 Chinese Yuan (CNY) for a 2-week holiday. You need to exchange your Chinese Yuan into Australian Dollar (AUD) to use during your holiday. The exchange rate advertised by a local foreign exchange dealer is: AUD 1= CNY 4.6500 - 4.7100 5a) 2 Marks What is the commodity currency and term currency in the advertised quote? Is it a direct quotation or an indirect quotation? What is the bid-offer spread for the local foreign exchange dealer? [2 marks] A B I U X2 x? = 2 F ABC 123 G 2 56) ERPENTIERE Marks What is the rate at which you can convert Chinese Yuan (CNY) into Australian Dollar (AUD)? Explain why? [2 marks] 5f) 1 FENDERDELERDEN Marks How many Chinese Yuan (CNY) will you receive given your answer to part e)? [1 mark] 5d) 2 Marks At the end of your holiday, you have $300 Australian dollar (AUD) which you have not spent on your holiday and you now want to covert it back to Chinese Yuan (CNY). What are the up-side and down-side foreign exchange risks you may have to face? [2 marks]