March/June 2018 Q4 spot mid rates

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February 9, 2021 at 3:24 am #609750
bbzhao
Member
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Hello
What does the spot mid-rates mean in the question? I thought it would be (0.9347+0.9369)/2, however, in the answer, we just need to take 0.9369 in the calculation.
Thank you
February 9, 2021 at 8:34 am #609785
John Moffat
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Spot mid rate are calculated as you have typed.
They are relevant for part (b)(i) of the question in calculating the amounts in Swiss francs. The examiners answer has not used 0.9369 for the €’s but has used the mid-rates.
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