Question
A New York currency dealer quotes the bid rate for the Canadian dollar at $.8420C/$ and the ask rate is $.8890/C$ an MNC needs to
A New York currency dealer quotes the bid rate for the Canadian dollar at $.8420C/$ and the ask rate is $.8890/C$ an MNC needs to buy $10 million from the dealer. How much would the transaction cast the MNC in Canadian dollars?
A. C$8,420,000
B. C$8,890,000
C. C$11,248,593.93
D. None of the above
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Social Finance Shadow Banking During The Global Financial Crisis
Authors: Neil Shenai
1st Edition
3030082318, 978-3030082314
