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At the Moscow airport in Russia, there are two quotations between Russian Ruble (RUB) and USD:...

At the Moscow airport in Russia, there are two quotations between Russian Ruble (RUB) and USD: RUB31/USD and RUB32/USD.

Calculate the RUB amount Tom would get.
please show your work.

2) Judy isabout to leave Russia. She wants to convert RUB 5,000 into USD.

Calculste the USD amount Judy would get.
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Answer #1

USD 1 = RUB 31 is the bid price or price at which USD can be sold to get RUB

USD 1= RUB 32 is the ask price or price at which USD can be bought for RUB

Tom want to get RUB amount. So he will have to sale USD for price of RUB 31

For 1 USD Tom will get RUB 31

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