Using the information contained in the table,for the AUD/USD exchange rate,what is the bid rate,assuming direct rates from an Australian perspective?

Question

Quizplus · Accepted Answer

The first issue is to express the quotation in a direct rate from an AUD perspective.That is,the units should be in AUD,and hence the AUD should be in the numerator as per AUD/USD.As the rates are quoted in the table as USD/AUD,we must invert the rates and reverse the bid and ask rates.Hence,the bid rate for the USD/AUD is 1/0.9945 = 1.0055.

Using the Information Contained in the Table,for the AUD/USD Exchange 0.9940 0.9940 0.9940

Using the Information Contained in the Table,for the AUD/USD Exchange $0.9940$