Page 188 - AFM Integrated Workbook STUDENT S18-J19
P. 188
Chapter 10
1.2 Two quoted rates
Two rates, a buying rate and a selling rate, will often be given.
Illustration 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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