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A bank quotes a bid price of $0.0093 per yen and an ask price of $0.00936 per yen for its wholesale customers. What is the

A bank quotes a bid price of $0.0093 per yen and an ask price of $0.00936 per yen for its wholesale customers. What is the bid/ask spread in percentage terms?

Bid/ask spread = Ask rate Bid rate Ask rate = 0.00936 0.0093 0.00936 = 0.641% = 0.00641

Part 2 If you convert $29,000,000 to yen and then back to dollars, what is your total round-trip cost (in $)?

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