On Friday, September, $24,2012,$ the U$.$S$.$ Dollar sold for $8811\mathrm{.}10$ Ghanaian Cedis in the

interbank spot market. At the same time and place, $1$ U$.$S$.$ Dollar exchanged for $\mathrm{.}815$ Euros.

$(10)$ What was the cross rate between the Euro and the Cedi on that day? $(5$ pts$)$ If the cash

rate $($parallel market rate$)$ is priced at $4\%$ higher $($non Dollar cost$),$ what is the cross rate in

tha parallel markets?

$(10)$ Suppose the British pound is pegged to gold at $6$ pounds per ounce, whereas the French

franc is pegged to gold at $18$ francs per ounce. If the current exchange rate is $3\mathrm{.}1$ francs per

pound, calculate the arbitraging profit possible.