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What is the bid-ask spread

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Reference no: EM132500086

Question 1: Nova Scotia Bank offers quotes on the Canadian dollar as shown below. What is the bid-ask spread based on these quotes? (Round answer to 2 decimal places e.g. 17.54%.)

Bid

Ask

C$0.9586/$

C$0.9595/$

Question 2: A local community bank has requested foreign exchange quotes for the Swiss Franc from Citibank. Citibank quotes a bid rate of $1.1000/SF and an ask rate of $1.1063/SF. What is the bid-ask spread? (Round answer to 3 decimal places, e.g. 17.540%.)

Question 3: A foreign exchange dealer is willing to buy the Danish krone (DKr) at $0.1557/DKr and will sell it at a rate of $0.1568/DKr. What is the bid-ask spread on the Danish krone? (Round answer to 2 decimal places, e.g. 17.52%.)

Question 4: Given the following quotes, calculate the €/£ cross rate. (Round answer to 4 decimal places, e.g. 15.2578. Do not enter currency sumbols in your answer.)

Bank of America

$1.745/£

JP Morgan Chase

$1.3879/€

Reference no: EM132500086

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