Forex Quotation Illustration 12
The following quote is given in New York:
EUR 1 = USD 1.2596 / 1.2620
Is it a direct or indirect quote?
Find the mid rate, spread and the % spread. Calculate inverse quote.
(Ans: It is direct quote
Mid Rate 1.2608
Spread 0.0024
% Spread 0.19%
Inverse quote is USD 1 = EUR 0.7924/0.7939)
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