Question
Chase Bank quotes Norwegian kroner as NOK8.9618=$ Bid and NOK8.8939=$ Ask 1. Which currency is Chase Bank buying at the NOK8.9618 =USD bid rate, and
Chase Bank quotes Norwegian kroner as NOK8.9618=$ Bid and NOK8.8939=$ Ask
1. Which currency is Chase Bank buying at the NOK8.9618 =USD bid rate, and which currency is Chase Bank selling at the NOK8.8939=USD offer rate?
2. If you sell $1 million to Chase Bank at a bid price of NOK8.9618/USD and change it at the offer rate, what is your gain/loss in USD? In NOK?
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Forecasting Principles And Practice
Authors: Rob J Hyndman, George Athanasopoulos
3rd Edition
0987507133, 978-0987507136
