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Basic Question 9 of 12

Currency quotations are given in pairs. The first number in the pair is the ______ and the second is the ______.

A. ask rate; bid rate
B. spot rate; forward rate
C. bid rate; ask rate
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User Contributed Comments 1

User Comment
ankurwa10 One can remember it as buyers & sellers; therefore bid:ask
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Your review questions and global ranking system were so helpful.
Lina

Lina

Learning Outcome Statements

describe the foreign exchange market, including its functions and participants, distinguish between nominal and real exchange rates, and calculate and interpret the percentage change in a currency relative to another currency

CFA® 2025 Level I Curriculum, Volume 1, Module 7.