A foreign exchange dealer using the direct form of quotation quoted US$1.00 equals A$1.2897/1.4366. What does this represent?
A) A buying rate of A$1.4366 for US$1.00.
B) A buying rate of US$1.2897 for A$1.00.
C) A selling rate of A$0.1.2897 for US$1.00.
D) A bid-ask spread of A$0.1469.
Correct Answer:
Verified
Q2: A realised exchange difference arises:
A) when the
Q3: All of the following are examples of
Q4: The _ is a hedge of the
Q5: A decrease in the direct rate of
Q6: All of the following assets can be
Q7: All of the following are foreign currency
Q8: At the date of the transaction, a
Q9: The degree to which changes in the
Q10: Hedge effectiveness is ascertained from:
A) the hedge
Q11: All the following items are 'monetary items'
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