Forex Quotation Illustration 12


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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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