Which of the following statement is true?
Statement I Cross rate represents when one unit of foreign currency is represented in the terms of another foreign currency.
Statement II Cross rates are determined only with the help of domestic currency and the foreign currency.
A. Both statements are correct
B. Both statements are incorrect
C. Statement I is correct, but Statement II is incorrect
D. Statement II is correct, but Statement I is incorrect
Answer: Option C
This Question Belongs to Management >> International Finance And Treasury
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