$$\begin{array} { | l | c | c | }
\hline & { \text { USD equivalent } } \
\hline \text { Courtry } & \text { BID } & \text { ASK } \
\hline \text { Carada (Dollar) } & 0.8653 & 0.8667 \
\hline \text { Euro € } & 1.4000 & 1.4200 \
\hline
\end{array}$$ What is the BID cross-exchange rate for Canadian dollars priced in euro? Hint: Find the price that a currency dealer will pay in euro to buy Canadian dollars.

Question

$$\begin{array} { | l | c | c | } 
\hline & { \text { USD equivalent } } \
\hline \text { Courtry } & \text { BID } & \text { ASK } \
\hline \text { Carada (Dollar) } & 0.8653 & 0.8667 \
\hline \text { Euro  € } & 1.4000 & 1.4200 \
\hline
\end{array}$$ What is the BID cross-exchange rate for Canadian dollars priced in euro? Hint: Find the price that a currency dealer will pay in euro to buy Canadian dollars.

Quizplus · Accepted Answer

To find the BID cross-exchange rate for CAD in EUR, divide the BID rate of CAD/USD by the ASK rate of EUR/USD: 0.8653 / 1.4200 = 0.6094.

What Is the BID Cross-Exchange Rate for Canadian Dollars Priced