Can someone please explain the difference between USD/AUD and USD:AUD. I’m getting some of my FX translations wrong in FRA simply because of the FX trade intepretation.
Thanks!
Four or five years ago CFA Institute added the (stupid) USD:AUD notation; it’s the inverse of the USD/AUD notation.
As of a few minutes ago, Yahoo! Finance had the USD/AUD exchange rate at 1.0344 USD/AUD; that would also be written as 1.0344 AUD:USD (or maybe AUD:USD 1.0344; I forget the order). In either case, it means that if you want one Aussie dollar, you need to spend one US greenback.
As I say, it’s stupid, because it’s confusing (and unnecessarily so). But you’ll see both notations, so you have to understand them.
Sorry.
The curriculum does not use the USD:AUD notation anymore (at Level II).
Good news!