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The spot GBP:USD rate is being quoted by a dealer bank at 92/97
The spot GBP:USD rate is being quoted by a dealer bank at 92/97. The figure is 1.60. What is the dealer's bid and what is the dealer's offer? 5. A dealer is quoting the 90 day forward rate for GBP:USD at 45/37. Based on the spot rates in D above, what is the dealer's "outright quote" for 90 day cable in terms of dollars.
Expert Solution
Here, The figure is 1.60
As Spread is given in 92→97, that’s means its added in figure
Now Spot Rate is 1.6092/1.6097
Spread for 90 day Forward is given 45←47
Now Forward Rate is 1.6047/1.6050
For Dealer "Outright Quote"
A quote in which all the digits of the bid and offer prices are quoted.
That's means for Dealer it's bid rate i.e 1.6047
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