spot

You must not post links to pirate website on here – it is illegal and unethical. You should be using a Revision Kit that you have bought from one of the ACCA approved publishers.

By all means say which question in which exam (you do not say which question from this exam!) or the number of the question in the current edition of the BPP Revision Kit.

If the closing mid-point is 1.6242 and the bid/offer spread is 239 – 244, then it means the spot rate is 1.6239 – 1.6244. (As to which of the two you use, then this is explained in the lectures).

This question was set by the previous examiner and is the only time exchange rates have been given in this way. It is extremely unlikely that the current examiner will ever present them like this.