Can someone help me understand some currency exchange terminology……
What is the difference in a bid and an offer? To me the words mean the same thing, but obviously they don’t in this context.
Thanks.
Bid is the price you can buy from the dealer, offer is the price the dealer will buy from you. Just remember you always get the losing end with the dealer, you will always buy things from then at the higher price and sell to the dealer at the lower price.
Offer = ask.
(Don’t offer . . . er . . . ask me why; I don’t know.)
You’re welcome.