In the FX quote 1.1164/66, which price is the bid (buy) and which is the ask (sell)?

In the FX quote 1.1164/66, which price is the bid (buy) and which is the ask (sell)?

• A. Bid 1.1164, Ask 1.1166
• B. Bid 1.1166, Ask 1.1164
• C. Bid 1.1164, Ask 1.1164
• D. Bid 1.1166, Ask 1.1166

Answer: (B)

In FX quotes, two prices are shown: the bid and the ask. The bid is the price at which the market is willing to buy the base currency from you, and the ask is the price at which the market is willing to sell the base currency to you. The bid is typically lower than the ask, creating a spread. For a quote written as 1.1164/66 (EUR/USD, for example), the left-hand figure is the bid and the right-hand figure is the ask. So the bid is 1.1164 and the ask is 1.1166. This means: - If you sell the base currency (EUR), you receive 1.1164 USD per EUR. - If you buy the base currency (EUR), you pay 1.1166 USD per EUR.

In FX quotes, two prices are shown: the bid and the ask. The bid is the price at which the market is willing to buy the base currency from you, and the ask is the price at which the market is willing to sell the base currency to you. The bid is typically lower than the ask, creating a spread.

For a quote written as 1.1164/66 (EUR/USD, for example), the left-hand figure is the bid and the right-hand figure is the ask. So the bid is 1.1164 and the ask is 1.1166. This means:

• If you sell the base currency (EUR), you receive 1.1164 USD per EUR.

• If you buy the base currency (EUR), you pay 1.1166 USD per EUR.