开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

Weike · 2024年02月05日

exchange rate calculation

  1. CFA I
  2. Economics Analysis

NO.PZ2023071902000005

问题如下：

Question When the local currency is trading at a forward premium, the interest rate in the foreign country, compared to the domestic country's interest rate, is most likely:

选项：

A.lower.

B.higher.

C.the same.

解释：

Solution


B Correct. The currency with the higher (lower) interest rate will always trade at a forward discount (premium). The lower interest rate in the domestic country will be compensated by the appreciation of the domestic currency over the investment period.

Exchange Rate Calculations

• explain the arbitrage relationship between spot and forward exchange rates and interest rates, calculate a forward rate using points or in percentage terms, and interpret a forward discount or premium

可以解释一下答案么，为什么利率变化与forward rate成反比

添加评论
1 个答案

笛子_品职助教 · 2024年02月06日

嗨，从没放弃的小努力你好：


可以解释一下答案么，为什么利率变化与forward rate成反比

Hello，亲爱的同学~

同学这里需要先了解一个知识点：covered 利率平价。

covered 利率平价的含义是：

人们在利差上的盈利，会在升贴水中亏掉。

或者：人们在利差上的亏损，会在升贴水中赚到

盈亏相等，因此是均衡。


在以上知识点基础上，我们再来看本题。

本国F是升水交易，即F-S>0，因此在升贴水上，持有本币是盈利。

那么在利差上，持有本币就必须是亏损的。也就是本国利率低于外国利率。

因此选B，外国利率相对本国利率是higher



----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 1

    回答

  • 0

    关注

  • 161

    浏览
相关问题

NO.PZ2023071902000005问题如下 Question When the loccurrenis trang a forwarpremium, the interest rate in the foreign country, compareto the mestic country's interest rate, is most likely: A.lower.B.higher.C.the same. SolutionB Correct. The currenwith the higher (lower) interest rate will always tra a forwarscount (premium). The lower interest rate in the mestic country will compensatethe appreciation of the mestic currenover the investment perioB正确。利率较高(较低)的货币总是以远期折扣(溢价)在交易。在投资期间，国内较低的利率将由本国货币的升值进行补偿。 Exchange Rate Calculations • explain the arbitrage relationship between spot anforwarexchange rates aninterest rates, calculate a forwarrate using points or in percentage terms, aninterpret a forwarscount or premium 这一题可以用利率平价公式来解决吗？

2024-08-08 18:05 2 · 回答

NO.PZ2023071902000005问题如下 Question When the loccurrenis trang a forwarpremium, the interest rate in the foreign country, compareto the mestic country's interest rate, is most likely: A.lower.B.higher.C.the same. SolutionB Correct. The currenwith the higher (lower) interest rate will always tra a forwarscount (premium). The lower interest rate in the mestic country will compensatethe appreciation of the mestic currenover the investment perioExchange Rate Calculations• explain the arbitrage relationship between spot anforwarexchange rates aninterest rates, calculate a forwarrate using points or in percentage terms, aninterpret a forwarscount or premium 这道题的问题应该是站在current 时点而言吧？

2024-02-28 23:14 1 · 回答

NO.PZ2023071902000005问题如下 Question When the loccurrenis trang a forwarpremium, the interest rate in the foreign country, compareto the mestic country's interest rate, is most likely: A.lower.B.higher.C.the same. SolutionB Correct. The currenwith the higher (lower) interest rate will always tra a forwarscount (premium). The lower interest rate in the mestic country will compensatethe appreciation of the mestic currenover the investment perioExchange Rate Calculations• explain the arbitrage relationship between spot anforwarexchange rates aninterest rates, calculate a forwarrate using points or in percentage terms, aninterpret a forwarscount or premium 可以一下这道题么

2024-02-05 00:27 1 · 回答