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In Conversation, Interbank Foreign Exchange Traders Use a Shorthand Abbreviation

Question 32

Multiple Choice

In conversation, interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations. Consider a $/£ bid-ask quote of $1.9072-$1.9077. The "big figure", assumed to be known to all traders is _____.


A) 1.9077
B) 1
C) 1.90
D) 77

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