STEP: $4$ of $4$

Before your vacation to France, you had also been considering a vacation to Iceland. Iceland's currency is the Krona, and at the time, your bank's bid

rate was $$0\mathrm{.}007533$ and its ask rate was $$0\mathrm{.}0081.$

In this case, the nominal bid$/$ask spread for the Krona is

dollars per krona. This can be misleading, however, since the bid$/$ask

spread in percentage terms is

than that of the euro in this example.