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一大 · 2022年11月08日

in point到底等于多少

  1. CFA I
  2. Economics Analysis

NO.PZ2016010802000213

问题如下：

The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rates are quoted on the basis of a 360-day year, the 90-day forward points in JPY/AUD would be closest to:

选项：

A.

–377.0.

B.

–97.7.

C.

98.9.

解释：

B is correct.

The forward exchange rate is given by

FJPY/AUD=S(JPY/AUD)(1+ijpy)/(1+iAUD)=82.42[(1+0.0015(90/360)]/[1+0.0495(90/360)]=82.42*0.98815=81.443

The forward points are 100 × (F – S) = 100 × (81.443 – 82.42) = 100 × (–0.977) = –97.7. Note that because the spot exchange rate is quoted with two decimal places, the forward points are scaled by 100.

考点：Forward Premium and Discount

解析：第一步，先算得远期汇率水平，

FJPY/AUD=S(JPY/AUD)(1+ijpy)/(1+iAUD)=82.42[(1+0.0015(90/360)]/[1+0.0495(90/360)]=82.42*0.98815=81.443

第二步，计算forward points 100 × (F – S) = 100 × (81.443 – 82.42) = 100 × (–0.977) = –97.7. .

抛开这道题目不讲，我们在现实生活中in point应该认为它是万分之一还是百分之一

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笛子_品职助教 · 2022年11月08日

嗨，从没放弃的小努力你好：


in point到底等于多少


Hello，亲爱的同学！

in point表示多少，要看汇率是这么表达的。points是指汇率数字最后一个小数点。


例如本题， 82.42，小数点是2位，我们一个point 就是0.01。那么呢码头答案-0.977，就是-97个point


如果数字是 82.422，小数点后3位，我们一个point就是0.001.

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