Please show your work in excel.

4. Restate the following one-, three-, and six-month outright forward European term bid-ask quotes in forward points.

Spot: 1.3431-1.3436

One-Month: 1.3432-1.3442

Three-Month: 1.3448-1.3463

Six-Month: 1.3488-1.3508

5. Using the spot and outright forward quotes in problem 4, determine the corresponding bid-ask spreads in points.

EXHIBIT 5.4 Exchange Rates Currencies May 16, 2016 U.S.-dollar foreign-exchange rates in late New York trading - Mon - Country/currency in US$ Per US$ Americas Argentina peso .0708 14.134 Brazil real .2856 3.5014 Canada dollar .7755 1.2895 Chile peso 001440 694.28 Colombia peso 000330 3028.50 Ecuador US dollar Mexico peso .0546 18.306 Peru new sol .3003 3.330 Uruguay peso .03242 30.8450 Venezuela b, fuerte . 100125 9.9875 Asia-Pacific Australian dollar .7289 1.3720 1-mos forward .7280 1.3737 3-mos forward .7264 1.3767 6-mos forward .7242 1.3809 China yuan .1534 6.5205 Hong Kong dollar .1288 7.7637 India rupee .01497 66.805 Indonesia rupiah 0000751 13310 Japan yen .009172 109.03 1-mos forward .009179 108.94 3-mos forward .009198 108.72 6-mos forward 009230 108.34 Malaysia ringgit .2483 4.0273 New Zealand dollar .6759 1.4795 Pakistan rupee .00956 104.60 Philippines peso .0215 46.450singapore dollar .7302 1.3695 South Korea won 0008477 1179.66 Taiwan dollar .03064 32.642 Thailand baht 02832 35.420 Vietnam dong .00004500 22220 Europe Czech Rep. koruna 04186 23.889 Denmark krone .1520 6.5795 Euro area euro 1.1321 .8833 1-mos forward 1.1331 .8825 3-mos forward 1.1353 .8808 6-mos forward 1.1389 .8780 Hungary forint 003593 278.30 Norway krone 1224 8.1732 Poland zloty .2570 3.8915 Russia ruble 01527 65.482 Sweden krona -1211 8.2610 Switzerland franc 1.0229 .9776 1-mos forward 1.0242 .9764 3-mos forward 1.0270 .9737 6-mos forward 1.0318 .9692 Turkey lira .3371 2.9667 UK pound 1.4402 .6944 1-mos forward 1.4403 .6943 3-mos forward 1.4407 6941 6-mos forward 1.4416 .6937 Middle East/Africa Bahrain dinar 2.6523 3770 Egypt pound .1133 8.8298 Israel shekel 2617 3.8210 Jordan dinar 1.4097 .7094 Kuwait dinar 3.3141 .3017 Lebanon pound 0006636 1507.00 Saudi Arabia riyal 2686 3.7503 South Africa rand .0650 15.3900 UAE dirham .2723 3.6729 Sources: Compiled from Bloomberg data, May 16, 2016, and from using the OANDA online currency converter at www.oanda.com.American Terms European Terms Bank Quotations Bid Ask Bid Ask New Zealand dollar 7265 7272 1.3751 1.3765 Singapore dollar 6135 .6140 1.6287 1.6300