Use Method 2 (i.e., Always Remember That There Are Only Two Rates, and You Will Always Get

Question:

Use Method 2 (i.e., Always Remember That There Are Only Two Rates, and You Will Always Get the Disadvantageous One) to explain whether the bid rate or ask rate should be used for each of the four transactions on pages 462 and 463. Assume the is quoted in terms of dollars per Malaysian ringgit (i.e., $/MYR).
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...