[blank] is the rate that a bank wants the customer to pay in the terms currency for one unit of the base currency, when the bank is selling and the customer is buying.

Question

Quizplus · Accepted Answer

The ask rate is the rate at which a bank is willing to sell a currency to the customer. It is the opposite of the bid rate, which is the rate at which a bank is willing to buy a currency from the customer. The exchange rate is a general term that can refer to either the bid or ask rate, depending on the context. The buying rate can refer to the rate at which a customer is buying a currency from the bank, but it is not specific enough to indicate whether it is the bid or ask rate being used.

[Blank] Is the Rate That a Bank Wants the Customer