Fx PRM

ameyakukde
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Posts: 29
Joined: Thu Aug 02, 2012 11:55 am

Fx PRM

Postby ameyakukde » Tue Apr 09, 2013 12:54 am

If USD/ZAR is quoted at 4.8920/30 and USD/JPY as 123.74/84, what is the rate at which you can buy JPY against ZAR?

The rate at which JPY can be bought against ZAR is the bid rate for ZAR/JPY. Bid rate for this will be given by Bid of USD/JPY / Ask of USD/ZAR i.e., 123.74/4.8930 or 25.2892

Why "The rate at which JPY can be bought against ZAR is the bid rate for ZAR/JPY"? Why not the bid rate for "JPY/ZAR"?
Kindly explain this part in detail.

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