Forex problem bid or ask

This query is : Resolved

Guest

Guest (Querist)

08 September 2014 HOW CAN I KNOW WHETHER BID RATE OR ASK RATE WILL APPLY FOR A PARTICULAR TRANSACTION..EXAMPLE...IF MR. SACHIN HAS RUPEE WITH HIM AND HE WANTS TO PURCHASE DOLLAR FROM BANK ...THEN BANK BUYING RATE OR ASK RATE WILL APPLY ...PLZ TELL...AND PLZ TELL THE CRUX OF THE ANSWER...THAT HOW TO IDENTIFY WHICH RATE WILL APPLY...

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2014 follow the simple principle...lets say bank is giving you dollar and taking Rupee. So the rate at which bank will sell dollar will be Bid rate and the rate and the rate at which it buys dollars will be the ask rate.

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