Use the table to answer the following question(s). Yen: Spot and Forward(/$)Poun

Question

Use the table to answer the following question(s).

Yen: Spot and Forward(/$)Pound: Spot and Forward ($/)

The current spot rate of dollars per pound as quoted in a newspaper is ________ or ________. The following are the multiple choices

£ 1.4484/$; $0.6904/ £

£ 1.4487/$; $0.6903/ £

$1.4484/ £ ; £ 0.6904/$

$1.4481/ £ ; £ 0.6906/$

Use the table to answer the following question(s). Yen: Spot and Forward(/$)Pound: Spot and Forward ($/) Mid Rates Bid Ask Mid Rates Bid Ask Spot 129.87 129.82 129.92 1.4484 1.4481 1.4487 Forward Rates 1 month 129.68 -20 -18 1.4459 -26 -24 6 months 128.53 -136 -132 1.4327 -160 -154 Swaps 2 year 117.65 1232 1212 1.425 -238 -230 3 year 115.5 1452 1422 1.4225 -265 -253 Q8

The current spot rate of dollars per pound as quoted in a newspaper is ________ or ________. The following are the multiple choices

£ 1.4484/$; $0.6904/ £

£ 1.4487/$; $0.6903/ £

$1.4484/ £ ; £ 0.6904/$

$1.4481/ £ ; £ 0.6906/$

Explanation / Answer

Answer: $1.4481/ £ ; £ 0.6906/$

=> The bid price is always the closing price of the trading day.

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