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sir normally its like if a retailer buys a foreign currency so bank is selling so it sells at high price ask rate and if a retailer wants to sell foreign currency so bank is buying so it will buy at low rate or bid rate
sir but in kaplan book it says bank buys at high sells at low
sir its confusing pls help out sirI depends which of the two currencies they are writing about.
You need to watch the first of my free lectures on foreign exchange risk management in which I explain (with examples) how to decide which of the two rates to use.
The lectures are a complete free course and cover everything needed to be able to pass the exam well. If you watch the lectures you do not really need to use the Study Text – what you do need is to buy a Revision Kit from one of the ACCA approved publishers and practice every question in it after watching the free lectures.
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