Forex Quotation Illustration 11
The following quote is given.
USD 1 = CAD 1.1630/50.
Identify the country in which this is a direct quote.
Find the mid rate, spread and the spread percentage.
Calculate the inverse quote.
(Ans: Direct quote in CAD i.e. in Canada.
Mid Rate 1.1640
% Spread 0.17%
Inverse quote is CAD 1 = USD 0.8584/0.8598)
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