Given the following information, what are the NZD/SGD currency against currency bid-ask quotations?
American Terms European Terms Bank Quotations Bid Ask
New Zealand dollar 0.7265 0.7272 1.3751 1.3765
Singapore dollar 0.6135 0.614 1.6287 1.63
Answer:
The prices at which the New Zealand and Singapore dollars can be bought or sold are listed in the bid-ask quotations for NZD/SGD. The ask price is the lowest price a seller is ready to accept, while the bid price indicates the highest price a buyer is willing to pay.
The range at which a currency pair can be purchased or sold is shown by the NZD/SGD currency against currency bid-ask quotations. In this instance, the New Zealand dollar (NZD) has a bid price of 0.7265 and an ask price of 0.7272 in American terms, while the Singapore dollar (SGD) has a bid price of 0.6135 and an ask price of 0.614 in European terms. The Bank Quotations for the NZD and SGD are 1.3751 and 1.3765, and 1.6287 and 1.63 respectively.
These prices represent the rates that a market maker – such as a bank – is willing to buy at (the bid) and sell at (the ask). A trader that wants to buy NZD would use the ask price, and if they wanted to sell, they would use the bid price. The difference between these two prices is the spread, which can vary depending on market conditions and the currency pair.
More Answers:
- What is the correct definition of compromise?
- What is 140kg to lbs?
- ACA Section 1557 rules for disability concern.
- What color is a marker that indicates safe water on all sides?
- List all of the possible combinations for when the cheese club could meet for practice.
- How can I find the Verizon transfer pin?
- when a person’s memory of an event is modified by misleading info presented.