Cross-exchange rate between the peso and the krone, Accounting Basics

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Cross-exchange rate between the peso and the krone

Problem:

A currency trader observes that in the spot exchange market, one U.S. dollar can be exchanged for 10.875 Mexican pesos or for 6.205 Danish krone.

Required:

Question: What is the cross-exchange rate between the peso and the krone; that is, how many pesos would you receive for every krone exchanged?

1.704 pesos/krone

1.658 pesos/krone

1.753 pesos/krone

1.619 pesos/krone

1.790 pesos/krone

Note: Please show basic calculation

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Accounting Basics: Cross-exchange rate between the peso and the krone

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Accounting Basics: Cross-exchange rate between the peso and the krone

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