Question
Bid-ask spreads. You are exchanging 10,000 Canadian dollars (CAD) for Mexican pesos (MXN). Your dealer quotes you the following exchange rates: CAD/USD = 1.2631-1.2865; or,
Bid-ask spreads. You are exchanging 10,000 Canadian dollars (CAD) for Mexican pesos (MXN). Your dealer quotes you the following exchange rates: CAD/USD = 1.2631-1.2865; or, 1.2631-1.2865 CAD for one US dollar. MXN/USD = 19.7604 -20.1518; or 19.7604 -20.1518 MXN for one US dollar. The amount of MXN you will have after paying for the bid-ask spreads is: A. $153,598.13 MXN. B. $159,542.40 MXN. C. $651.05 MXN. D. $156,443.67 MXN.
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Handbook Of Safeguarding Global Financial Stability Political Social Cultural And Economic Theories And Models
Authors: Gerard Caprio
1st Edition
0123978750, 0123978785, 9780123978752, 9780123978783
