Melissa, a foreign-exchange trader, wants to buy euros from Stephanie. Which of the following is the price at which Melissa is willing to buy euros? A) spread B) offer C) bid D) cross rate
Question:
Melissa, a foreign-exchange trader, wants to buy euros from Stephanie. Which of the following is the price at which Melissa is willing to buy euros?
A) spread
B) offer
C) bid
D) cross rate
Answers (1)
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Harriette April 2, 2023 в 08:21The price at which Melissa is willing to buy euros from Stephanie is the bid price. In the foreign exchange market, the bid price is the price at which a market maker, in this case Melissa, is willing to buy the currency from a counterparty, Stephanie, who wants to sell it. The spread refers to the difference between the bid and ask prices, and it represents the profit margin for the market maker. The offer price is the price at which the market maker is willing to sell the currency to the counterparty. The cross rate is the exchange rate between two currencies that are not the official currencies of the country the quote is provided in.
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