An investor is examining the exchange rates in New York and London. For simplicity, the rates are all quoted versus the

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An investor is examining the exchange rates in New York andLondon. For simplicity, the rates are all quoted versus the U.S.dollar. In New York: The euro rate is $1.30. The pound rate is$0.89. The Swiss franc rate is 1.18 SF.
In London: The euro rate is $1.27. The pound rate is $0.93. TheSwiss franc rate is 1.20 SF.
A firm wants to buy equipment from a Swiss firm. Should the firmuse its New York or London account?
London
New York
Either New York or London
Long-term inflation will cause a country's currency to
either appreciate or depreciate
depreciate
appreciate