Following foreign exchange quotes have been abstracted from Westpac Banking Corporation, (date 4th February +2019) (1)...

 

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Following foreign exchange quotes have been abstracted from Westpac Banking Corporation, (date 4th February +2019) (1) United States Dollar USD Euro EUR Pound Sterling GBP New Zealand Dollar NZD Philippine Peso PHP Brunei Dollar BND Canadian Dollar CAD CFP Franc XPF Chinese Yuan CNY Danish Krone DKK Fiji Dollar FJD Hong Kong Dollar HKD Japanese Yen JPY Malaysian Ringgit MYR Norwegian Krone NOK Papua New Guinean Kina PGK Samoan Tala WST Saudi Riyal SAR Singapore Dollar SGD Sri Lankan Rupee LKR Bank ask rate Bank Bid Rate (Sending money overseas or buying travel (Have foreign currency to money?-Your buying rate) convert? - Your selling rate) Internationa Foreign Cheques (7) Internatio LitePay Global Foreign nal (3) Cash (5) Payments (2) 0.6864 0.6955 0.6007 0.6139 0.6077 0.5269 0.5379 0.5322 1.0084 1.0094 36.0469 0.9310 0.8990 73.0400 4.6293 4.4728 1.4655 5.4154 75.1700 5.7952 2.3183 1.7627 2.5866 0.9310 121.8200 currency Card (4) 37.6468 6.2086 0.6853 0.9115 5.4611 76.1923 0.9389 0.6864 0.6007 0.5269 1.0084 36.0469 0.9310 0.8990 71.0800 21.7569 4.6293 4.4728 1.4251 5.4154 75.1700 2.8107 5.7952 2.2546 1.7142 2.5866 0.9310 1 Payments (Receipts) (6) 0.7591 0.7617 0.7617 0.6633 0.6655 0.6655 0.5789 0.5808 0.5808 1.0851 1.0888 1.0888 39.5900 39.7223 39.7223 1.0180 1.0214 1.0214 0.9862 0.9897 0.9895 78.9900 79.2500 79.2500 5.1211 4.9356 4.9356 1.6128 1.6128 5.9246 5.9246 83.1500 83.1500 5.1040 4.9192 1.6074 5.9049 82.8800 6.3683 Foreign Cash (8) 6.3897 2.0026 2.0093 2.8303 2.8397 1.0212 1.0247 133.4100 134.3300 Swedish Krona SEK 6.2086 6.8293 6.8521 6.8521 Swiss Franc CHF 0.6853 0.7533 0.7559 0.7559 Thai Baht THB 21.4143 21.4143 23.5526 23.6313 23.6313 Tongan Pa'anga TOP 1.5164 1.4747 1.7444 1.7503 1.7503 1. Are the given quotes direct or indirect quotes? How do you differentiate the direct quotes from the indirect quotes? 2. Describe each foreign exchange products offered by WestPac. Explain how you could use them. 3.1212 6.3897 2.6269 2.0093 2.8397 1.0246 Following foreign exchange quotes have been abstracted from Westpac Banking Corporation, (date 4th February +2019) (1) United States Dollar USD Euro EUR Pound Sterling GBP New Zealand Dollar NZD Philippine Peso PHP Brunei Dollar BND Canadian Dollar CAD CFP Franc XPF Chinese Yuan CNY Danish Krone DKK Fiji Dollar FJD Hong Kong Dollar HKD Japanese Yen JPY Malaysian Ringgit MYR Norwegian Krone NOK Papua New Guinean Kina PGK Samoan Tala WST Saudi Riyal SAR Singapore Dollar SGD Sri Lankan Rupee LKR Bank ask rate Bank Bid Rate (Sending money overseas or buying travel (Have foreign currency to money?-Your buying rate) convert? - Your selling rate) Internationa Foreign Cheques (7) Internatio LitePay Global Foreign nal (3) Cash (5) Payments (2) 0.6864 0.6955 0.6007 0.6139 0.6077 0.5269 0.5379 0.5322 1.0084 1.0094 36.0469 0.9310 0.8990 73.0400 4.6293 4.4728 1.4655 5.4154 75.1700 5.7952 2.3183 1.7627 2.5866 0.9310 121.8200 currency Card (4) 37.6468 6.2086 0.6853 0.9115 5.4611 76.1923 0.9389 0.6864 0.6007 0.5269 1.0084 36.0469 0.9310 0.8990 71.0800 21.7569 4.6293 4.4728 1.4251 5.4154 75.1700 2.8107 5.7952 2.2546 1.7142 2.5866 0.9310 1 Payments (Receipts) (6) 0.7591 0.7617 0.7617 0.6633 0.6655 0.6655 0.5789 0.5808 0.5808 1.0851 1.0888 1.0888 39.5900 39.7223 39.7223 1.0180 1.0214 1.0214 0.9862 0.9897 0.9895 78.9900 79.2500 79.2500 5.1211 4.9356 4.9356 1.6128 1.6128 5.9246 5.9246 83.1500 83.1500 5.1040 4.9192 1.6074 5.9049 82.8800 6.3683 Foreign Cash (8) 6.3897 2.0026 2.0093 2.8303 2.8397 1.0212 1.0247 133.4100 134.3300 Swedish Krona SEK 6.2086 6.8293 6.8521 6.8521 Swiss Franc CHF 0.6853 0.7533 0.7559 0.7559 Thai Baht THB 21.4143 21.4143 23.5526 23.6313 23.6313 Tongan Pa'anga TOP 1.5164 1.4747 1.7444 1.7503 1.7503 1. Are the given quotes direct or indirect quotes? How do you differentiate the direct quotes from the indirect quotes? 2. Describe each foreign exchange products offered by WestPac. Explain how you could use them. 3.1212 6.3897 2.6269 2.0093 2.8397 1.0246

Answer rating: 100% (QA)

1 To determine whether the given quotes are direct or indirect quotes we need to identify the base currency and the quote currency In a direct quote t... View the full answer