Cross Rates Illustration 4
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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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