Previous Banking Day

A great question from one of my Excel seminars started out as a simple question: how can I convert a column of dates to show if the day is Monday, Tuesday, etc.? However, upon further examination, they were trying to figure out the banking day before the date shown. This could have been an ugly combination of IF functions to locate Mondays and Bank Holidays. However, one obscure function solves this problem in a short formula. Episode 644 shows you how.

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