You are a CFO of a major corporation, and want to buy dollars in exchange for euros. The bank quotes you the following currency rate ($/€): 1.50-1.52. At what rate will you buy?
A) 1.50
B) 1.51
C) 1.52
D) Insufficient information to answer this question.

Question

Quizplus · Accepted Answer

When buying dollars with euros, you will use the ask rate, which is the higher rate quoted by the bank, 1.50-1.52. Therefore, you will buy at 1.50.

You Are a CFO of a Major Corporation, and Want