General Studies · International Finance
Which of the following statements is TRUE regarding foreign exchange market concepts?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The rate at which a foreign exchange dealer is ready to sell a currency is called the bid rate.
- 2Cross rate is the exchange rate between two currencies calculated on the basis of their exchange quotes relative to a third currency.✓
- 3Forward exchange rate is the rate of that day on which the transaction has taken place.
- 4The role of the Central Bank in the foreign exchange market is commercial in nature.
Correct answer
Cross rate is the exchange rate between two currencies calculated on the basis of their exchange quotes relative to a third currency.
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