Question
Amy has a small company is engaged in exporting products to America and it based in AU. Now you are the customer of AB Bank
Amy has a small company is engaged in exporting products to America and it based in AU. Now you are the customer of AB Bank which has given the following quotes between US dollar and AU dollar. For Spot: BID price is 0.7346USD to 1 AUD; the ask price is 0.7348USD= 1AUD. for 3 month forward: the BID is 0.7349 USD=1AUD and ask price is 0.7352USD=1AUD. 6 month forward for BID is 0.7353USD=1AUD and 0.7357USD=1AUD for ask price. Is these direct or indirect quotes from perspective, and if it is direct quotes, could you convert it into indirect quotes; if it is indirect convert into direct.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started