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What is the term currency in the advertised quote

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Question - Ann works and lives in Melbourne. Currently she is considering buying some Airbnb shares trading on the Nasdaq stock exchange. The shares are selling for USD 54 per share and she is planning to purchase 500 shares. She approaches a foreign exchange dealer in Melbourne to exchange her Australian dollars into U.S dollars. The rates advertised by the dealer are USD 1= AUD 1.4265-1.4385

a) What is the term currency in the advertised quote? What is the bid-offer spread for the dealer?

b) What is the rate at which Ann can exchange Australian dollars into U.S dollars? Explain why? 

c) How many Australian dollars will she need to purchase 500 Airbnb shares at USD 54 per share given your answer to part b)?

Reference no: EM132934952

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