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1. You are given the following quotes. Current Spot Exchange Rate USD/ZAR 14,0000 - 14,9000 Six-month interest rates (percent per year): USD 3.0% - 3.5%

1.You are given the following quotes.

Current Spot Exchange Rate

USD/ZAR 14,0000 - 14,9000

Six-month interest rates (percent per year):

USD 3.0% - 3.5%

ZAR 2.0% - 2.5%

Calculate the USD/ZAR 3-month forward bid and ask exchange rate?Assume that the USD is the Domestic Currency

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