If First American Bank quotes bid and offer rates for the Russian ruble at $.0350-.0360,the bank would realize profits of $1,000 on the purchase and sale of 1 million rubles.

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The bank would buy 1 million rubles at the bid rate of $.0350, for a total cost of $35,000. It would then sell the rubles at the offer rate of $.0360, for a total revenue of $36,000. The bank's profit would be $1,000.

If First American Bank Quotes Bid and Offer Rates for the Russian