The bid rate refers to the price at which a bank is willing to sell a unit of foreign currency; the offer rate is the price at which a bank is willing to buy a unit of foreign currency.
Correct Answer:
Verified
Q142: Most foreign exchange trading is carried out
Q143: Most foreign exchange transactions are conducted between
Q144: If it takes $0.18544 to purchase 1
Q145: If Citibank quoted bid and offer rates
Q146: If Chase Manhattan Bank quotes bid and
Q148: If it takes $1.5515 to buy 1
Q149: If a Citibank dealer expects the Swiss
Q150: Similar to stock and commodity exchanges, the
Q151: The "spread" is a bank's profit margin
Q152: A speculator engages in a short position
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents