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What are the three types of foreign exchange price?
What are the three types of foreign exchange price?
The three types of foreign exchange price refer to the buying rate, the selling rate and the medial rate. The buying rate refers to the rate by which a commercial bank buys a currency.The selling rate is the rate by which bank sells currency.The medial rate is the average of the two. It is used in transactions between the banks and is not applicable to common customers.
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