(Answered) Citigroup quotes danish kroner as lsquolsquodkk562 bid and

Finance

Citigroup quotes Danish kroner as ‘‘DKK5.62/$ Bid and DKK5.87/$ Ask.''

a. Which currency is Citigroup buying at the DKK5.62/$ bid rate, and which currency is Citigroup selling at the DKK5.87/$ offer rate?

b. What are the bid and ask prices in American terms? Which currency is Citigroup buying at these prices and which currency is Citigroup selling?

c. With the foreign currency in the numerator, the ‘‘DKK5.62/$ Bid and DKK5.87/$ Ask'' quotes are indirect quotes for a U.S. resident. What are the bid and ask prices in direct terms for a U.S. resident? At these prices, which currency is Citigroup buying and which currency is it selling?

d. If you sell $1 million to Citigroup at a bid price of DKK5.62/$ and simultaneously buy $1 million at their offer price of DKK5.87/$, how many Danish krona (‘‘krona'' is the plural of kroner) will you make or lose? What is Citigroup's kroner profit or loss on the transaction?

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91537074
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Are there risks involved in investing in security markets

Are there risks involved in investing in security markets? Can someone explain what is a risk-return tradeoff? Lastly are risks ever mitigated with diversification and time?

Assignment - based on walgreens boots alliance wba

Assignment - Based on Walgreens Boots Alliance (WBA) Pharmacy: This paper will utilize the calculations for the pro forma financial model and identify the necessary financial artifacts needed to formulate an informed mod ...

A firm has a profit margin of 39 percent a capital

A firm has a profit margin of 3.9 percent, a capital intensity ratio of 1.5, and a debt-equity ratio of .7. What is the firm's ROE? Can someone help me understand how to solve this?

Question - write answers to the following statements each

Question - Write answers to the following statements. Each answer should be approximately 225 words and should use 1-2 sources in addition to the textbook. Use real-life examples to support your reasoning. Demonstrate ho ...

The following question was part of last years midtermdelta

The following question was part of last year's midterm: Delta Airlines and United Airlines are major American airlines with extensive international route networks. United has an enterprise value to EBIT (EV/EBIT) multipl ...

Compound yieldthe 1st three months spot yield is 2 the 2nd

Compound yield: The 1st three months spot yield is 2%; The 2nd three months spot yield is 4%; The 3rd three months spot yield is 6%; The 4th three months spot yield is 8%. Write the compound formulas for the forward yi ...

Question - find and read 2 articles about a recent merger

Question - Find and read 2 articles about a recent merger or acquisition. Write a paper of approximately 900 words for each article that answers the following questions: • What alternatives to the merger or acquisition m ...

In 2010 47462 air conditioning units were sold in fulton

In 2010 47,462 air conditioning units were sold in Fulton County. Glacial HVAC, Inc. sold 3,275 units in 2010. 2010 industry sales represent a 8.4 % decrease over 2009 sales. Calculate 2009 industry sales. Round your ans ...

Express surgerys preferred stock which has a par value

Express Surgery's preferred stock, which has a par value equal to $110 per share, pays an annual dividend equal to 9% of the par value. If investors require a 15% return, what's the stock's market value?

1 what considerations do you need to take when considering

1. What considerations do you need to take when considering "time value of money"? 2. Why is the following statement true? "A dollar today is worth more than a dollar tomorrow."

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert