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Bidaskspread formula
The formula is: bid-ask spread is equal to (selling exchange rate minus buying exchange rate) divided by buying exchange rate multiplied by 100%.

Bid-ask spread rate, that is, the percentage of bid-ask spread relative to purchase price.

Foreign exchange banks and other financial institutions buy and sell foreign exchange for profit, and the difference between their selling price and buying price is their income, so the selling price of foreign exchange of banks must be higher than the buying price. Generally, the price difference between buyers and sellers is around 1‰ to 5‰.