In conversation, interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations. Consider a $/£ bid-ask quote of $1.9072-$1.9077. The currency dealer would likely quote that as _____.

Question

Quizplus · Accepted Answer

The interbank foreign exchange traders use the last two digits of the bid and ask prices to express spot currency quotations. Therefore, $1.9072-$1.9077 would be quoted as 72-77.

In Conversation, Interbank Foreign Exchange Traders Use a Shorthand Abbreviation