________ is the rate at which banks sell a currency and ________is the rate at which banks buy the currency.

Question

Quizplus · Accepted Answer

The rate at which banks sell a currency is called the "offer" rate or "ask" rate, while the rate at which banks buy the currency is called the "bid" rate. Therefore, option B is the correct choice. Option C is incorrect because "spread" refers to the difference between the bid and offer rates, not just the offer rate. Option D is also incorrect as "closing" and "spot" rates are not used in this context.

________ Is the Rate at Which Banks Sell a Currency