To transact all cross-currency trades, one must first convert both currencies into U.S.dollars.

Name: To transact all cross-currency trades, one must first convert both currencies into U.S.dollars.
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Question

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Cross-currency trades involve the exchange of two currencies other than the US dollar. To facilitate these trades, both currencies are first converted into US dollars, which serves as an intermediary currency.

To Transact All Cross-Currency Trades, One Must First Convert Both