The broker at Deutsche Bank quotes bid-ask rates of ¥104.15-30/$.What would be its direct asking price for yen if the bank's €/$ ask rate is .6550?

Question

Quizplus · Accepted Answer

To find the direct asking price for yen in euros (€/¥), we first convert $1 into yen using the ask rate for $/¥, which is ¥104.30/$. Then, we convert that amount into euros using the ask rate for €/$, which is .6550. The calculation is as follows: 1/104.30 * .6550 = .00628, resulting in an asking price of €.00628/¥.

The Broker at Deutsche Bank Quotes Bid-Ask Rates of ¥104