Question
You need to purchase Japanese yen and have called two brokers to get quotes. The first broker offered you a rate of 125 yen per
You need to purchase Japanese yen and have called two brokers to get quotes. The first broker offered you a rate of 125 yen per dollar. The second broker, ignoring market convention, quoted a price of 0.0079 dollar per yen. To which broker should you give your business?
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the second broker
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the first broker
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Introduction To Finance Markets, Investments, And Financial Management
Authors: Ronald W Melicher, Edgar Norton
13th Edition
0470128925, 9780470128923
