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You call your Sydney-based FX dealer for an FX quote and she says The dollar aussie spot is ten twenty six forty. (Hint: Search the

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You call your Sydney-based FX dealer for an FX quote and she says "The dollar aussie spot is ten twenty six forty". (Hint: Search the web for the latest quote to make more sense of these words). 1) What is the dealer's bid rate? (Give answer to 4 decimal places, e.g. 5.4321) 2) What is the dealer's ask rate? (Give answer to 4 decimal places, e.g. 5.4321) 3) If you want to convert AUD 2,250,000 into USD at the spot rate, how much will you be able to get? USD (Give answer to 2 decimal places, e.g. USD 1 million = 1000000.00)

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