- CFA Exams
- CFA Level I Exam
- Study Session 5. Economics (2)
- Reading 18. Currency Exchange Rates
- Subject 2. Exchange Rate Quotations
CFA Practice Question
What would the bid-ask spread be for pound sterling quoted at £:$ = 1.4419-28?
A. 0.64%
B. 0.062%
C. 0.63%
Explanation: Percent spread = [(1.4428 - 1.4419)/1.4428] x 100 = 0.062%
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