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In Conversation,interbank Foreign Exchange Traders Use a Shorthand Abbreviation in Expressing

Question 4

Multiple Choice

In conversation,interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations.Consider a $/£ bid-ask quote of $1.2519-$1.2523.The "big figure," assumed to be known to all traders is ________.


A) 1.2523
B) 1
C) 1.25
D) 23

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