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Bid rate and offer/ask rate

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(Querist)
01 June 2014 Sir/Madam,
I need a elobarate view on the topic bid rate and ask rate. Im struggling with the base of SFM. Pls help me out
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
01 June 2014 you can refer JB gupta book for indepth knowledge.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
01 June 2014 its simple.

Bid rate refers to the price the buyer is willing to pay.

Offer/ask rate is the rate at which seller is ready to sell.

In reference to foreign exchange, the questions often come where bid/ask rate are given like INR/USD 60.10/60.40. this means that bank would buy at 60.10 and sell at 60.40
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