Banco Herrero Wants to Make a Bid-Ask Spread of 0

question 77

Multiple Choice

Banco Herrero wants to make a bid-ask spread of 0.55 percent on its foreign exchange transactions. If the ask rate on the Mexican peso (MP) is MP10.4192/$, what does the bid rate have to be? (Do not round your intermediate calculation. Round your final answer to four decimal places.)

• A) MP10.3619/$
• B) MP10.4192/$
• C) MP10.4249/$
• D) MP10.2165/$

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