Question
The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$01.1232/$. If the bank typically ties to make
The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$01.1232/$. If the bank typically ties to make a bid-ask spread of 0.5 percent on these foreign exchange transactions, what will the ask rate have to be?
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Cases In Financial Management
Authors: I.M. Pandey
3rd Edition
0071333428, 978-0071333429
