Question $23(3$ points$)$

If the current spot exchange rate is quoted as $$\frac{1\mathrm{.}21}{}$ and $$\frac{1\mathrm{.}24}{},$

$$ $$\frac{1\mathrm{.}24}{}$ is the bid price.

$\frac{1\mathrm{.}21}{}$ is the ask price.