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Finding Interbank (cash) currency prices is fairly easy. In fact most financial papers like the Wall Street Journal and Investor's Business Daily have special columns devoted to Interbank prices and exchange rates. The first thing to understand is that currency prices are quoted in two ways. Prices are either quoted in currency per dollar or dollar per currency. Interbank rates are most often quoted as currency per dollar, whereas the futures market is most often quoted as dollars per currency.
INTERBANK EXAMPLE: Interbank rate for Deutsche mark is quoted at 1.8348 (This means that one dollar will buy 1.8348 Deutsche marks.)
................................................................................................ September Deutsche mark futures is quoted at .5450 (This means that it takes .5450 dollars to buy one Deutsche mark.)
Please note that these numbers are just the inverse of one
another.
As you can see, it's just a different way to quote the same price.
The only exceptions are the British pound, the Australian dollar and the Irish punt which are quoted the same way in the futures market and the Interbank market (dollars per currency.)
The information contained here was gathered from sources deemed reliable, however, no claim is made as to its accuracy or content. There is a risk of loss in trading and investing and you should carefully consider your financial position before making any trades.
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