For a currency swap with $10 million notional amount, the notional amount in British pounds if the exchange rate is $1.55 is (approximately)
a. £11.55 million
b. £15.5 million
c. £10 million
d. £6.45 million
e. none of the above
Answer: D
For a currency swap with $10 million notional amount, the notional amount in British pounds if the exchange rate is $1.55 is (approximately)
a. £11.55 million
b. £15.5 million
c. £10 million
d. £6.45 million
e. none of the above
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