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Asteroid SYSTEMS JUNE 2008 QUESTION 3

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Asteroid SYSTEMS JUNE 2008 QUESTION 3

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • November 28, 2015 at 9:08 am #285870
    567890bba
    Member
    • Topics: 5
    • Replies: 10
    • ☆

    Good morning sir, the solution to the question. How was the 1.6244 got? thanks

    November 28, 2015 at 11:47 am #285890
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54684
    • ☆☆☆☆☆

    It is the spot rate.

    Although the mid-point has been given (1.6242) the bid/offer spread is meaning that it went from 1.6239 to 1.6244

    (I would not worry too much about this – this question was set by the previous examiner and it is the only time that exchange rates have been given in this way in exam (even though it is the case in practice). I really don’t think that the current examiner would ever present it like this.)

    November 28, 2015 at 1:06 pm #285917
    567890bba
    Member
    • Topics: 5
    • Replies: 10
    • ☆

    Thanks

    November 28, 2015 at 1:19 pm #285922
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54684
    • ☆☆☆☆☆

    You are welcome 🙂

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