--- In Czechlist@egroups.com
, JPKIRCHNER@a... wrote:
> When I see in a European article on foreign exchange something like
> going for 113,43-46 to the dollar, does the hyphenated figure
> difference between the high and low, or the buy and sell rates?
> This is confusing to me, because the Wall Street Journal just uses
> figure in its articles.
It's difficult to answer that one without seeing the context. Do you
have a specific example, Jamie?
Most European market reports I see give a single rate, just like in
the WSJ. Maybe your article refers to the range over a certain time
period (e.g. during the day). Also, bear in mind that each individual
currency trade will be at a slightly different price, depending on
what the two parties to the deal agree. Of course, these differences
are very small, as the forex market is highly globalised and
information on the market price is widely available. Maybe the author
is trying to capture the size of that range at a certain point in
time rather than trying to nail it down to a single number.
The "buy and "sell" rates that one sees at banks and exchange offices
are a bit of a red herring, I think. The spread between the two is
simply the profit or commission of the institution doing the
exchanging, as charged to the hapless Jo Tourist. The two are also
often given, but the range you quote seems far too narrow for this
to be the case.
All the best to my fellow Czechlist contributors for the New Year.