The prices of yen are quoted in Tokyo at ¥115/$ Bid and ¥118/$ Ask. What are...

Question

Question

The prices of yen are quoted in Tokyo at ¥115/$ Bid and ¥118/$ Ask. What are the direct quotations of the bid and ask prices in New York?

Answer 1

Answer #1

direct bid quote in New York = 1 /(yen/$) ask rate

=>1/118

=>$0.00847./ yen

direct ask quote in New York = 1 /115

=>$.0.00870./yen

Answer 2

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