1- What is term used to describe a currency that is expected to devalue or depreciate relative to major currencies?

2-Suppose that S=$1.10/. If the price of an item costs $6 in the U.S. and 5 in Germany, what is the real exchange rate? Do not use any symbol or unit. Also, make sure to round your answers to the nearest 10000th decimal points.

3-Suppose that the 120-day forward rate is F=190/$. The spot rate is S=180/$. Find the forward premium or discount for the yen. Do not use any unit. Also, make sure to round your answers to the nearest 10000th decimal points.

4-Bank A quotes /$ = 187. Bank B quotes /$ =( 1/1.15). What is the implied / cross exchange rate? Do not write any unit. Make sure to round your answers to the nearest 100th decimal points.

5-Suppose that today's spot exchange rate is /$ = 187. Next year's exchange rate is expected to be /$ = 193. What is the percentage change in the value of the yen? Do not write any symbol. Express your answers as a percentage. Make sure to round your answers to the nearest 100th decimal points. For example, write 12.34 for 12.34%.

6-Suppose a bank quotes $/ = 1.1045-1.1506. What is the bid-ask spread in percentage? Do not write any symbol. Express your answers as a percentage. Make sure to round your answers to the nearest 100th decimal points. For example, write 12.34 for 12.34%.

7-Suppose a bank quotes S = $1.1045/. The annualized risk-free interest rates are 4% and 6% in the U.S and Germany, respectively. Find the approximate forward rate for the euro. Do not write any symbol. Make sure to round your answers to the nearest 100th decimal points. For example, write 1.2345 for $1.2345/.

8-Bank A quotes /$ = 187. Bank B quotes /$ =0.8765. Bank C quotes / =220. Find the profit of a U.S. investor conducting a triangular arbitrage. Assume the investor has $1,000,000. Do not write any unit. Make sure to round your answers to the nearest 100th decimal points.

9-Suppose that

S = 182/$

F=190/$

r = 4.5%

r$= 3%

Compute the profit from CIA using the equivalent of $1,000,000. Make sure to round your answers to the nearest 100th decimal points.