On 2nd March 2022 Star Exporters have received export order for USD 2 million for shipment to Germany between 15th March to 30th March 2022. The letter of credit to that extent was received by the exporters and the documents were required to be submitted within 15 days from the date of shipment. The payment terms are 90 days sight. Rates on 2nd March 2022 (Spot Date 6th March 2022) are as follows: Spot USD 44.3500 / 44.3800 Forward July 45/46 When bank is quoting as above it means, the bank would buy at ___ Rate and Sell at ___ Rate a. Spot, Ask b. Bid, Spot c. Spot, Forward d. Bid, Ask
On 2nd March 2022 Star Exporters have received export order for USD 2 million for shipment to Germany between 15th March to 30th March 2022. The letter of credit to that extent was received by the exporters and the documents were required to be submitted within 15 days from the date of shipment. The payment terms are 90 days sight. Rates on 2nd March 2022 (Spot Date 6th March 2022) are as follows: Spot USD 44.3500 / 44.3800 Forward July 45/46 When bank is quoting as above it means, the bank would buy at ___ Rate and Sell at ___ Rate a. Spot, Ask b. Bid, Spot c. Spot, Forward d. Bid, Ask
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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On 2nd March 2022 Star Exporters have received export order for USD 2 million for shipment to Germany between 15th March to 30th March 2022. The letter of credit to that extent was received by the exporters and the documents were required to be submitted within 15 days from the date of shipment. The payment terms are 90 days sight.
Rates on 2nd March 2022 (Spot Date 6th March 2022) are as follows:
Spot USD 44.3500 / 44.3800
Forward
July 45/46
When bank is quoting as above it means, the bank would buy at ___ Rate and Sell at ___ Ratea.
Spot, Ask
b.
Bid, Spot
c.
Spot, Forward
d.
Bid, Ask
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