Cross Rates Illustration 4
The following quote is given in Singapore:
USD 1 = SGD 1.2670 / 1.2700. Is it a direct or indirect quote?
Find the midrate, spread and the % spread. Calculate inverse quote.
(Ans.: Direct in Singapore
Mid Rate 1.2685
Spread 0.0030
% Spread 0.24%
Inverse 0.7874/0.7893)
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