question 2

Exchange rate	Spot rate	1 month forward	2 month forward	3 month forward
Canada dollar	RM 3.3900/25	10/15	35/25	30/20
New Zealand dollar	RM 2.7600/15	20/40	30/40	50/25
Chinese yuan renminbi	RM 0.6600/10	15/5	30/20	25/35

Country	Rate (%)
Canada	9
New Zealand	7
China	4
Malaysia	2

Required

1. If the bank's customer wants CNY25,000, how many RM would he exchange UTK today?

2. If you are expected to receive CAD100,000 in 2 months' time, how much is it pay in RM?

3. If the bank's customer wishes to sell NZD350,000 in 3 months time, how much he will receive in RM?

4. What is the annualized premium or discount on the 3-month forward bid RM per NZD rate?

5. What is the bid-ask price and percentage spread of CAD per CNY in 90 days?

6. What is the bid-offer price and percentage spread of CAD in NZD in 180 days?

7. If you need to pay NZD450,000 in 6 months time for a foreign currency transaction, how much would that be in CAD?