Question
Your client asks you for a quote (both bid and ask) for the AUD-GBP cross exchange rate. You work for a small bank; thus, you
Your client asks you for a quote (both bid and ask) for the AUD-GBP cross exchange rate. You work for a small bank; thus, you will buy and sell the foreign exchange needed for this transaction from your counterparties, Citibank and Deutsche, who give you the following quotes:
Citibank Bid Ask USD per AUD 0.70 0.72
Deutsche Bid Ask USD per GBP 1.20 1.22 Whats the best bid-ask quote (AUD per GBP) you can offer your client, without losing any money on the transaction?
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Financial And Managerial Accounting
Authors: Nonso E Okpala
1st Edition
1634873904, 9781634873901
