Question
Assume a bank's bid rate for the Danish kroner (DKK) is $0.1875, while its ask rate is $0.1895. Assume you convert $1,000 to Danish kroner
Assume a bank's bid rate for the Danish kroner (DKK) is $0.1875, while its ask rate is $0.1895. Assume you convert $1,000 to Danish kroner to take on your trip to Denmark. Immediately after conversion, a family emergency arises, and you are unable to go on your trip. Thus, you convert the Danish kroner back to dollars.
What is the bank's bid/ask percentage spread?
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The Complete Guide To Capital Markets For Quantitative Professionals
Authors: Alex Kuznetsov
1st Edition
0071468293, 978-0071468299
