Question
Data from the CMC Market Trading platform taken on March 3, 2022, shows the following exchange rate values. Currency Pair Bank Bid Bank Ask AUD/EUR
Data from the CMC Market Trading platform taken on March 3, 2022, shows the following exchange rate values.
Currency Pair | Bank Bid | Bank Ask |
AUD/EUR | 0.65573 | 0.65609 |
HKD/EUR | 0.115088 | 0.115099 |
USD/ JPY | 115.479 | 115.486 |
EUR/ USD | 1.11191 | 1.11198 |
NZD/SGD | 0.91873 | 0.91903 |
USD/NZD | 1.47388 | 1.47421 |
NZD/EUR | 0.61004 | 0.61021 |
Using these quotations, calculate the following: a. Calculate the bid/ask spread percentage for the Hong Kong
b. Calculate the bank bid and the bank ask rate for HongKong dollars in AUD (HKD/AUD).
c. Calculate the bank bid and ask rate for the New Zealand dollar in Japanese Yen(NZD/JPY).
d. Restate the AUD/EUR bid and ask rates if the EUR appreciates by 3%.
e. Assume the JPY appreciates by 2% against the USD, that is, JPY/USD increases by 2%. Calculate the bank bid, and the bank ask cross rate for the EUR in Japanese Yen (EUR/JPY) AFTER the JPY appreciation.
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