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A U.K. firm wants to convert A$200,000 of accounts receivables into U.K. pounds. A currency dealer offers the following bid-ask quotes. The U.K. firm accepts
A U.K. firm wants to convert A$200,000 of accounts receivables into U.K. pounds. A currency dealer offers the following bid-ask quotes. The U.K. firm accepts and receives:
| per US$ | ||
| Country | BID | ASK |
| Australia (A$) | 1.3720 | 1.3725 |
| UK () | 0.6667 | 0.6800 |
Multiple Choice
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97,151.
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90,671.
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None of the options.
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99,089.
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106,210.
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