Asteroid SYSTEMS JUNE 2008 QUESTION 3

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.)

Thanks

You are welcome :-)