On Dec 31st, the spot exchange rate of Japanese yens per one British pound was 151.40/. A Japanese multi-national company reached an agreement to purchase a large amount of British pound in a 3-month forward transaction. At the time, the forward premium was negative: the pound was traded at an annualized forward discount of 3.2%. What was the outright 3-month forward rate in terms of yens per pound?

Selected Answer:	148.4
Answers:	147.2
	147.8
	148.4
	149.0
	149.6
	150.2
	150.8
	None of the above