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What is the bid-ask spread on the danish krone

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Question

1. A local community bank has requested foreign exchange quotes for the Swiss Franc from Citibank. Citibank quotes a bid rate of $1.0900/SF and an ask rate of $1.0968/SF. What is the bid-ask spread? (Round answer to 3 decimal places, e.g. 17.540%.)

2. A foreign exchange dealer is willing to buy the Danish krone (DKr) at $0.1557/DKr and will sell it at a rate of $0.1569/DKr. What is the bid-ask spread on the Danish krone? (Round answer to 2 decimal places, e.g. 17.52%.)

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

Bank of America $1.720/£

JP Morgan Chase $1.3874/€

Reference no: EM132365402

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