In conversation,interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations.Consider a $/£ bid-ask quote of $1.2519-$1.2523.The "big figure," assumed to be known to all traders is ________.

Question

Quizplus · Accepted Answer

The "big figure" is the first two digits of the quote, which in this case is 1.25. This is the number before the decimal point, so the correct answer is C, 1.25.

In Conversation,interbank Foreign Exchange Traders Use a Shorthand Abbreviation in Expressing