Reading 18: Currency Exchange Rates - LOS b, (Part 1) ～ Q foreign, currency, white, black, percentage

mayanfang1

Q1. A foreign currency is quoted at $1.5558 - 70. The percentage spread is closest to:

A)   0.00120%.

B)   0.07707%.

C)   0.07713%.

Q2. Today’s spot CAD bid exchange rate is 1.425 CAD/EUR and the ask exchange rate is 1.435 CAD/EUR. The percent spread is closest to:

A)    0.702%.

B)    0.489%.

C)    0.697%.

Q3. Assume that the EUR/USD six-month forward exchange rate is quoted at 0.82556 – 0.82633. From a European dealer’s perspective, what is the bid-ask spread as a percentage of the ask price based on a direct quote?

A)   0.0932%.

B)   0.0933%.

C)   0.0009%.

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