1.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) 0.0009%. C) 0.0933%. D) 0.0770%. The correct answer was A) The spread is the difference between the bid and the ask or 0.82633 – 0.82556 = 0.00077. The spread as a percent of the ask price is (0.00077/0.82633) or 0.0932 percent. 2.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) 0.697%. B) 0.702%. C) 0.489%. D) 0.500%. The correct answer was A) The percentage spread is the same irrespective of how the quote is made. The percentage spread is calculated as: (1.435-1.425)/1.435 x 100 = 0.697% 3.A foreign currency is quoted at $1.5558 - 70. The percentage spread is closest to: A) 0.07713%. B) 0.07707%. C) 0.00120%. D) 0.01200%. The correct answer was B) Percent spread = [(Ask price – Bid price)/Ask price] x 100
Percent spread = [(1.5570 – 1.5558)/1.5570] x 100 = 0.077% | 
发表于 2008-4-29 18:42
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