Calculate the indirect quotes for the following direct quotes : (a) S$1 is quoted at A$1.02.
Question:
Calculate the indirect quotes for the following direct quotes :
(a) S$1 is quoted at A$1.02.
(b) HK$1 is quoted at A$0.16.
(c) MYR 1 is quoted at A$0.34.
Question 2
Suppose that a commercial bank's current quote for transactions involving the United States dollar is A$1.3214 - A$1.3298.
(a) State the ask and bid prices for the bank.
(b) Calculate the bid/ask spread for the bank as a percentage.
Question 3
Suppose that the Canadian dollar is worth A$1.08 and the United States dollar is worth A$1.35.
(a) Calculate the value of the Australian dollar against the Canadian dollar.
(b) Using your answer to (a), calculate the cross-exchange rate between the Canadian dollar and the United States dollar.
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young