Consider the exchange rates (reciprocals of each other) in TABLE 1 below (in Columns 2...
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Finance
Consider the exchange rates (reciprocals of each other) in TABLE 1 below (in Columns 2 and 3). Identify & write down the terminology used in the FX market as indicated in the first column and provide a brief description in the last column.
Note 1. For *s, indicate the classification European or American - in ONLY ONE of the two Columns - 2 or 3, and provide a description in the last column.
Note 2. For ~s, indicate the classification Direct or Indirect - in ONLY ONE of the two Columns 2 or 3, and provide a description in the last column.
TABLE 1: EXHANGE RATES & MARKET CONVENTIONS
Market
Convention
Exchange Rate:
$ 1.3893 /
Exchange Rate:
0.7198 / $
Description
European*
_____________
American*
_____________
_____________
_______________________________________
Direct in
London~
Direct in
NYC~
Indirect in
London~
Indirect in
NYC~
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