[blank] is the rate at which the bank buys a unit of the base currency from the customer by paying in the terms currency.

Question

Quizplus · Accepted Answer

The bid rate refers to the rate at which the bank buys a unit of the base currency from the customer by paying in the terms currency. The ask rate is the rate at which the bank sells a unit of the base currency to the customer. The exchange rate is the overall rate at which currencies can be exchanged. The buying rate generally refers to the rate at which the customer can buy the base currency from the bank. Therefore, the best choice for the given definition is C, bid rate.

[Blank] Is the Rate at Which the Bank Buys a Unit