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Citigroup quotes Danish kroner as DKK5.62/$ Bid and DKK5.87/$ Ask. With DKK in the numerator, the Bid and Ask quotes are indirect quotes for a
Citigroup quotes Danish kroner as DKK5.62/$ Bid and DKK5.87/$ Ask.
- With DKK in the numerator, the Bid and Ask quotes are indirect quotes for a U.S. resident. What are the bid and ask prices in direct terms for a U.S. resident? Which currency is Citigroup buying and which currency is it selling at these prices?
- If you sell $1 million to Citigroup at a bid price of and simultaneously buy $1 million at their offer price of , how many Danish krona (krona is the plural of kroner) will you make or lose? What is Citigroup's kroner profit or loss on the transaction?
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Principles Of Finance With Excel
Authors: Simon Benninga
2nd Edition
0199755477, 9780199755479
