No.PZ2023122502000062 (选择题)
来源:
An analyst gathers the following exchange rate information:
The 1-year forward rate is closest to:
您的回答A, 正确答案是: B
A
不正确4.67680.
B
4.68823.
C
4.69077.
数据统计(全部)
做对次数: 22
做错次数: 40
正确率: 35.48%
数据统计(个人)
做对次数: 0
做错次数: 0
正确率: 0%
解析
Solution
A Incorrect because the forward points are scaled down by 1,000 instead of 10,000: 4.6895 + (–12.7/1,000) = 4.6895 – 0.0127 = 4.67680.
B Correct because to convert any of these quoted forward points into a forward rate, one would divide the number of points by 10,000 (to scale down to the fourth decimal place, the last decimal place in the spot quote) and then add the result to the spot exchange rate quote 4.6895 + (–12.7/10,000) = 4.6895 – 0.00127 = 4.68823.
C Incorrect because the forward points are subtracted from the spot rate: 4.6895 – (–12.7/10,000) = 4.6895 + 0.00127 ≈ 4.69077.
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
- 纠错
- 62/90
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