Exchange Rates Quotes Confusion-Equity
Hi,
I'm in a spot of bother with the exchange rates as quoted in Reading 36- EOC Questions 13, 15 and 16.
In question 16, the ask rate is in the denominator while calculating the answer whereas in question 15 we multiply by the ask rate, which is a similar case. Can somebody explain me what is happening? They both are direct quotes right?
Thanks,
Anirudh |