6. Cross exchange rate movements Suppose that one year ago the spot rate for the...
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6. Cross exchange rate movements Suppose that one year ago the spot rate for the British pound was $1.08 per pound, while the spot rate for the peso was 80.60 per pero The cross rate of the British pound one year ago was (1 - pesos. Suppose that now the spot rate for the British pound is $2.00 per pound, while the spot rate for the peso was $1 per peso, Now, the cross rate of the British pound is 1 - pound pesos. This represents a percent change in the cross rate of the British
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