The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$1.2312/$. If the bank t

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answerhappygod
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The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$1.2312/$. If the bank t

Post by answerhappygod »

The foreign exchange department of Bank of America has a bid
quote on Canadian dollars (C$) of C$1.2312/$. If the bank typically
tries to make a bid-ask spread of 0.5 percent on these
foreign exchange transactions, what will the ask rate have to
be? (Round answer to 2 decimal places, e.g.
52.75.)
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