Alright, so Austin bid prices when you go to holy overseas, you usually want to exchange your home currency for the domestic currency of the...
Alright, so Austin bid prices when you go to holy overseas, you usually want to exchange your home currency for the domestic currency of the country you're traveling to and in order to do that you would go to a Forex exchange booth and these booths will always have two different prices. Eight.
We sell price and we buy price and depending on the transaction you're trying to make you will be quoted at one of the two prices.
So if you're exchanging your home currency for the domestic currency of the country traveling to will be quoted at one of these two prices and when you come back and you have all this excess currency of that other country, and you want to exchange it back into your home currency.
You will be quoted at the other price.
The same principle applies in the Forex market, any Forex currency pair actually has two prices.
The asking price and the bid price. The Ospreys will always be above the bid price and the asking price is the price that you would be quoted at if you want to buy the base currency you want to sell the base currency you will be using the bid price.
So, here using the response rate and dollar as an example, and in that currency pair. The British pound is the base currency.
The strand is the quoted currency so if you want to buy British pounds, then you will be using the asking price, and this means that for every one British pound you would have to pay 1.8873 strands in dollars.
Now if you want to sell British pounds, then you would you be using the bid price and for every one British pound you would get 1.8866 Australian dollars so you can see that you're always paying more to buy then you're getting when you're selling and that's the principle Forex market
We sell price and we buy price and depending on the transaction you're trying to make you will be quoted at one of the two prices.
So if you're exchanging your home currency for the domestic currency of the country traveling to will be quoted at one of these two prices and when you come back and you have all this excess currency of that other country, and you want to exchange it back into your home currency.
You will be quoted at the other price.
The same principle applies in the Forex market, any Forex currency pair actually has two prices.
The asking price and the bid price. The Ospreys will always be above the bid price and the asking price is the price that you would be quoted at if you want to buy the base currency you want to sell the base currency you will be using the bid price.
So, here using the response rate and dollar as an example, and in that currency pair. The British pound is the base currency.
The strand is the quoted currency so if you want to buy British pounds, then you will be using the asking price, and this means that for every one British pound you would have to pay 1.8873 strands in dollars.
Now if you want to sell British pounds, then you would you be using the bid price and for every one British pound you would get 1.8866 Australian dollars so you can see that you're always paying more to buy then you're getting when you're selling and that's the principle Forex market
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