问题如下：
1. To rebalance the SEK/GBP hedge, and assuming all instruments are based on SEK/GBP, Björk would buy:
选项：
A.GBP 7,000,000 spot.
B.GBP 7,000,000 forward to December 1.
C.SEK 74,812,500 forward to December 1.
解释：
B is correct.
The GBP value of the assets has declined, and hence the hedge needs to be reduced by GBP 7,000,000. This would require buying the GBP forward to net the outstanding (short) forward contract to an amount less than GBP 100,000,000.
A is incorrect because to rebalance the hedge (reduce the net size of the short forward position) the GBP must be bought forward, not with a spot transaction.
C is incorrect because the GBP must be bought, not sold. Buying SEK against the GBP is equivalent to selling GBP. Moreover, the amount of SEK that would be sold forward (to buy GBP 7,000,000 forward) would be determined by the forward rate, not the spot rate (7,000,000 × 10.6875 = 74,812,500).
老师，答案最后一句话提到了，如果用SEK头寸的forward，应该用forward rate来转换。
我想请教的是，这里的spot rate怎么理解？forward也像 futures一样，有报价吗？
还有forward rate在forward 合约有约定好的，对吗？
