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Citigroup quotes Danish kroner as DKK5.62/$ Bid and DKK5.87/$ Ask. Which currency is Citigroup buying at the bid rate, and which currency is Citigroup selling
Citigroup quotes Danish kroner as DKK5.62/$ Bid and DKK5.87/$ Ask.
- Which currency is Citigroup buying at the bid rate, and which currency is Citigroup selling at the offer rate?
- What are the bid and ask prices in American terms? Which currency is Citigroup buying and which is Citigroup selling at these prices?
- 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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Entrepreneurial Finance
Authors: Gary E. Gibbons, Robert D. Hisrich, Carlos Marques DaSilva
1st Edition
1452274177, 978-1452274171
