Katakan anda mempunyai $2,000. Kadar faedah semasa bagi deposit matawang dolar dan pound bagi tempoh matang 180 hari masing-masing adalah $ = 0.03 (3 peratus) dan = 0.02 (2 peratus). Kadar tukaran spot semasa adalah = $2/1. Suppose that you have $2,000. The current interest rates on dollar- and pound-denominated deposits for 180-day maturity are $ = 0.03 (3 percent) and = 0.02 (2 percent), respectively. The current spot exchange rate is = $2/1

(a) Apakah tiga strategi pilihan anda dalam tempoh 180 hari itu? What are your three basic choices of strategy over the next 180 days?

(b) Jika anda yakin bahawa kadar pertukaran antara dolar dan pound tidak akan berubah dalam tempoh 180 hari yang akan datang, apa yang akan anda lakukan? Apa yang akan anda peroleh pada hari ke-180? If you were certain that the exchange rate between dollars and pounds would not change over the next 180 days, what would you do? What would you have at the end of 180 days?

(c) Andaikan anda tidak kisah menanggung risiko pertukaran asing. Anda menjangkakan kadar spot dalam masa 180 hari adalah $2.03/1. Apakah strategi yang akan anda ikuti, dan mengapa? Selepas 180 hari, kadar spot terakru ternyata menjadi $2.02/1. Adakah anda berpuas hati dengan keputusan anda? Mengapa atau mengapa tidak? Assume you do not mind bearing foreign exchange risk. You expect the spot rate in 180 days to be $2.03/1. What strategy you would follow, and why? After 180 days, the accrual spot rate turns out to be $2.02/1. Are you pleased with your decision? Why, or why not?

(d) Sekarang andaikan anda adalah pengelak risiko. Kadar hadapan untuk 180 hari adalah $2.04/1. Apakah strategi yang anda lakukan? Now assume you are highly risk averse. The 180-forward rate is $2.04/1. What strategy do you follow?