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Chapter 10

1.2 Two quoted rates

Two rates, a buying rate and a selling rate, will often be given.

Example 2

For example, the US$ to £1 rate might be quoted as:

1.2830 – 1.2950

In this case, the lower rate is how many US$ can be bought from the bank for
£1, and the higher rate is how many US$ would have to be sold to the bank in
exchange for £1.

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