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moon · 2022年08月12日

老师,这样回答可以吗

NO.PZ2018113001000092

问题如下:

A fund manager observes that interest rates in the US dollar are much lower than in India and remain wide spread for a long time.

Based on this observation, describe what strategy should he take.

选项:

解释:

Answer:

In this case, Interest rates in India are higher than in the United States, so the dollar is a low rate currency or forward premium currency, the Rupee is a high rate currency or forward discount currency.

The manager should borrow from the low-rate currency and invest in the high-rate currency to earn the difference between the two countries; or invest in the forward discount currency and borrow the forward premium currency.

中文解析:

美元的利率低于印度卢比的利率,因此可以执行carry trade策略,借低利率货币投资于高利率货币,其中低利率货币又叫做forward premium currency,高利率货币又叫做forward discount currency。

老师,这样回答可以吗


implement carry trade, which suitable for large yield spread condition

borrow in US (forward premium currency) and invest in India(forward discount currency), earn the spread difference.

1 个答案

lynn_品职助教 · 2022年08月14日

嗨,努力学习的PZer你好:


基本是对的,但是borrow in US还是改成borrow from the low-rate currency (USD),比较好,因为我们是借美元不是在美国借款,这样表述更准确。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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