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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.

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. Correct Answer Statement I is correct, but Statement II is incorrect

Related Questions

In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested courses of action logically follow(s) for pursuing. Statement: The rupee may slump to a new low this year amid global policy uncertainties while domestic interest rates will remain elevated, raising borrowing costs, according to an ET poll of 20 market participants. Nearly three-fourths of the respondents believe the local unit could touch 69 to the dollar with some even pointing to 70 by December-end. The rupee is one of the worst-performing emerging market currencies this year, having lost about 6.7 per cent to the greenback to close at 68.13 on Monday. Courses of action: I. Indian corporates may borrow less ahead of elections with the likely benchmark rate at 8 per cent or more. Half the poll participants were of the opinion that the benchmark yield will either hover around that level or rise further. II. External factors coupled with domestic macro measures like weak current account deficit or fiscal deficit are likely to impact the rupee. The US Fed seems to be on course to raise rates.  III. Upcoming elections trigger a bit of policy uncertainty. A cocktail of factors including dollar strengthening, foreign fund outflows, general emerging market weakness and oil would continue to weigh on the rupee.
Which of the following statement is correct?
Statement I In currency quotation, the first currency is the base Currency and the second currency is known as the quoted currency.
Statement II A currency pair is generally represented by using a hyphen or an oblique.
In a certain number system there are only two notations to represent numbers: @ and %. 0 is represented by @ and 1 by %. The subsequent numbers are represented in the following manner: 2 is represented as %@, 3 is represented as %%, 4 is represented as %@@, 5 is represented as %@% and so on. Based on this coded language, answer the following questions: What number is represented by %%@%@%%?
A word is represented by only set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix – I are are numbered from 0 to 4 and that of Matrix – II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example ‘F’ can be represented by 03, 34 etc and ‘A’ can be represented by 31, 43 etc. Similarly, you have to identify the set for the word ‘RATES’. Matrix – I   Matrix – II   0 1 2 3 4   5 6 7 8 9 0 A G R F E 5 T P U S O 1 F E A G R 6 S O T P U 2 G R F E A 7 P U S O T 3 E A G R F 8 O T P U S 4 R F E A G 9 U S O T P
Which of the following statements are not correct in relation to pre-shipment credit in foreign currency?
Statement I It is a foreign currency loan available, both, to the importers and exporters.
Statement II It is self-liquidating in nature and can be liquidated by purchasing/discounting of bills.
Statement III Refinance from RBI is available to banks against pre-shipment credit in foreign currency.
Statement IV The interest rare shall not exceed 1.75% above six months, LIBOR for the initial period of one month.
A word is represented by only a set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered alternatively and represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered from 0 to 4 and that of Matrix-II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example, ‘C’ can be represented by 42, 56 etc and ‘P’ can be represented by 03, 65 etc. Similarly, you have to identify the set for the word ‘THRONE’.  Matrix I    Matrix II   0 1 2 3 4   5 6 7 8 9 0 H D U P F 5 J C N R G 1 O S K X I 6 P V T X L 2 R E W A Z 7 E Y W A O 3 B T Q Y N 8 K H Q U I 4 J L C V G 9 B S F M D
A word is represented by only set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are number alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered from 0 to 4 and that of Matrix-II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example ‘A’ can be represented by 10, 75 etc and ‘B’ can be represented by 44, 79 etc. Similarly, you have to identify the set for the word ‘FOLDER’.  Matrix I    Matrix II   0 1 2 3 4   5 6 7 8 9 0 H L F M I 5 E I C J G 1 A U W S E 6 P R U S K 2 R Y C Z O 7 A W O D B 3 K T X V J 8 O T V Q L 4 D Q G P B 9 H N D M F
A word is represented by only set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are number alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered from 0 to 4 and that of Matrix-II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example ‘T’ can be represented by 02, 98 etc and ‘E’ can be represented by 12, 59, 97 etc. Similarly, you have to identify the set for the word ‘FAMILY’.  Matrix I    Matrix II   0 1 2 3 4   5 6 7 8 9 0 I M T K G 5 O C M R E 1 O R E Z X 6 J S F W Y 2 A G W U N 7 P I V N G 3 Q S L A H 8 L U B K W 4 J F V P B 9 H Q E T D
A word is represented by only set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are number alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered from 0 to 4 and that of Matrix-II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example ‘K’ can be represented by 43, 89 etc and ‘F’ can be represented by 14, 78 etc. Similarly, you have to identify the set for the word ‘SAMPLE’.  Matrix I    Matrix II   0 1 2 3 4   5 6 7 8 9 0 D L H O A 5 E P V J C 1 E B R L F 6 M T W R S 2 V Q W S J 7 A H O F R 3 G A P D M 8 Q R L A K 4 S N I K C 9 G B I N D
A word is represented by only set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are number alternatives are represented by two classes of alphabets as shown in the given two matrices. The columns and rows of Matrix-I are numbered from 0 to 4 and that of Matrix-II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, for example ‘Q’ can be represented by 01, 69 etc and ‘W’ can be represented by 33, 77 etc. Similarly, you have to identify the set for the word ‘MODERN’.  Matrix I    Matrix II   0 1 2 3 4   5 6 7 8 9 0 B Q M I E 5 E K G M B 1 F V T Y G 6 I P T N Q 2 L X J A P 7 S A W V F 3 S H Z W K 8 M U R S J 4 C O U R D 9 D O L H C