Problema small money exchange in the city center in, Ask an Expert

Finance

Problem:

A small money exchange in the city center in Singapore has a bid/ask for US dollar of 1.2345/1.2360. The local bank has a bid/ask spread of 1.2351/1.2354.

Required:

Question: What is the maximum spread the money exchange can make?

Note: Provide support for your rationale.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91162043

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