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3. (6 points) For traders in Thai baht, the currency of Thailand, Commerzebank in Germany is offering a bid rate of 38.81 baht/euro and an

3. (6 points) For traders in Thai baht, the currency of Thailand, Commerzebank in Germany is offering a bid rate of 38.81 baht/euro and an ask rate of 39.40 baht/euro. What is the bid/ask percentage spread?

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