question archive The following table shows the interbank exchange rate of the GHC against its major traders
The following table shows the interbank exchange rate of the GHC against its major traders
Subject:FinancePrice: Bought3
The following table shows the interbank exchange rate of the GHC against its major traders. CURRENCY BID ASK SPREAD PERCENTAGE US$ 1.501 1.542 GB£ 2.400 2.431 ZAR 0.210 0.220 CFA 0.1102 0.112
a. Complete the above table.
b. Serwa Akoto, the CEO of SAA Limited, a Ghanaian manufacturing firm, wants to import manufacturing equipment worth US$1 million from the United States of America. How much Ghanaian cedis should she gather for the purchase of the equipment? How much profit will the bank make on this transaction? c. Given the bid rate, what is Great Britain pound (£) value of the US$? d. Given the bid rate, what is the ZAR (R) value of a CFA?
