The foreign exchange department of Bank of India has a bid quote on Indian rupees (Rs) of
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The foreign exchange department of Bank of India has a bid quote on Indian rupees (Rs) of Rs 43.21/$. If the bank typically tries to earn a bid-ask spread of 0.5 percent on these foreign exchange transactions, what will the ask rate be?
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The ask rate will have to be Rs4343 to pr...View the full answer
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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