Bid rate and ask rate in forex
these two prices is called spread. The bid is what the seller might be willing to give you if you were selling the currency. Another factor that can determine the spread between the bid and ask of a currency is uncertainty in its home country. No matter which currency is the base currencywhether USD, EUR or any base currencythe base currency always equals.
Example, a multinational wants to buy USD 5 million in exchange for Singapore dollars. Hence, Buy base currency/commodity. Banks are generally not the most favorable places to exchange currencies, as they tend to do so at an exchange rate that is much higher than the mid-market rate, allowing them to make a profit on the exchange. By market convention, the bid rate is"d on the left hand rate and the offer rate is on the right hand side. The short answer is that banks choose their own exchange rates.
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Strategien forex trading
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