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Question: What the difference between buy and sell for the forex rate (currency rate)?

(Posted by: asia on 2008-09-23 03:33:06)

I have CAD in my hand. if i want to convert in USD should i BUY by multibly the rate or SELL by divide the rate or the oppposite?????

Posted by: Stavros on 2008-09-23, 03:44:58

Go to finance.yahoo.com/ currency/ convert?amt= 1 &from= CAD &to= USD &submit= Convert If you have CAD you multiply with the lower rate that is bid. A tip.Always use the less rate so if you have CAD 1 CAd is currently 0.9964 USD. Suppose you have dollars.Then take the lower price again that is with 1 Dollar you have 1.0350 CAD, the reciprocal

Posted by: Reeal J on 2008-09-24, 04:22:21

Forex Rates: Forex rates are also termed as FX rates or foreign exchange rates. The difference between two currencies, of different countries is specified in Forex rates. Currency Rates: The simplest definition of currency rate is, exchanging currency with one country to another. In currency trading, four variables are involved. The four variables of currency trading are currency, currency exchange rate, and time and currency interest rate.