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A customer, Kangaroo Inc, asks Citibank to quote Kangaroo Inc the spot exchange rate for the Malaysian Ringit (MYR) against the Canadian dollar (CAD) and
A customer, Kangaroo Inc, asks Citibank to quote Kangaroo Inc the spot exchange rate for the Malaysian Ringit (MYR) against the Canadian dollar (CAD) and to quote the rate as the number of CAD per MYR. Kangaroo Inc has not said which direction they want to trade so Citibank quotes a bid and an ask rate. Citibank quotes the rate as 0.2365 - 0.2405. Suppose Kangaroo Inc decides to buy 31 mio MYR from Citibank. At what rate do they trade
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International Corporate Finance Value Creation With Currency Derivatives In Global Capital Markets
Authors: Laurent L. Jacque
2nd Edition
1119550467, 978-1119550464
