Page  8 8 Foreign Exchange Rates Quotations Cross Rates –Exchange rate is determined through their relationship with third currency –Example: Citibank, Japan quotes ¥ 83.30/C$ Bank of Canada quotes € 0.72 /C$ Cross Rate JPY/EUR = ¥ 83.30/C$/ € 0.72 /C$= ¥ 115.69/€
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