- This topic has 3 replies, 2 voices, and was last updated 6 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
Dear John,
In the options part of the question to convert USD 38 621 spot rate 1.5475 is used.
However I used 1.5510.We recieve dollars and we need to convert them to pound, so it means we will sell dollars, so 1.5510 is the sell rate.
Can you tell me where I go wrong ?
They are converting USD 59,766 to pounds.
The $59,766 is the premium, and the premium is payable. Therefore they are buying dollars and the relevant exchange rate is therefore 1.5475
Viewing 4 posts - 1 through 4 (of 4 total)
- The topic ‘Polytot PLC/june 2004’ is closed to new replies.