Identify result of realignment of exchange rates, Other Subject

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Identify result of realignment of exchange rates

Problem: Bank X quotes a bid rate of$0.025 and an ask rate of$0.028 for the Thai baht (THB). Bank Y quotes a bid rate of $0.029 and an ask rate ofS0.030 for the baht. A5 a result of realignment of exchange rates due to locational arbitrage. Bank Y's bid rate will adjust to exactly:

$0.028.
$0.025.
$0.030.
$0.029.
None of the above

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