A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR). His currency dealer provides this quotation:                                Bid        Ask SAR/USD      3.7500   -    12 USD/AED      0.2722   -    08 OMR/USD      0.3846   -    04 What are his proceeds from conversions?

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Q2) A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR).

His currency dealer provides this quotation:

                               Bid        Ask

SAR/USD      3.7500   -    12

USD/AED      0.2722   -    08

OMR/USD      0.3846   -    04

What are his proceeds from conversions?                                               

 

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