Question
You (the foreign exchange dealer) have been asked to quote the IDR/NZD exchange rate (the Indonesian Rupiah price of New Zealand Dollars). You have the
You (the foreign exchange dealer) have been asked to quote the IDR/NZD exchange rate (the Indonesian Rupiah price of New Zealand Dollars). You have the following direct quotes for the IDR and NZD against the USD:
IDR/USD 2,0502,075
NZD/USD 1.95351.9560
What is the IDR/NZD quote? Calculate the bidask spread on the exchange rate between IDR and NZD expressed in the direct quotation from an Indonesian perspective.
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
