Example 3 in Reading 13 Forward Rates and the Mark-to-Market of Forward positions
the wording in the following question throws me off a bit and I am wondering if the question is ambiguous or if I am not aware of some common wording practice when it comes to exchange rates. In the question we are provided with the following information:
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My problem is, that every time I read the question my interpretation changes. Is the question either:
a) at what rate can we sell CHF to 1st dealer??
b) at what rate does the 1st dealer sell CHF?
The answer implies in my understanding interpretation a). But to me it seems ambiguous, that is, I could have also gone with interpretation b) instead.
Would you agree that this is ambiguous or am I missing something that clearly indicates that interpretation a) is the only one possible.
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