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Question 3 20 Minutes 23-(20%) A Turkish importer company has a payment obligation of USD 10 Million 6 months from now. The company management wants

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Question 3 20 Minutes 23-(20%) A Turkish importer company has a payment obligation of USD 10 Million 6 months from now. The company management wants to fix the cash flow from today. The market parameters are as follows; Spot TL/USD 6.80/6.90 %pa USD interest rate for 6 months 2.5/3.5 % pa TL interest rate for 6 months 12.0/15.0 % pa a-What is the minimum TL/USD Forward rate for the date 6 months from today that the bank can quote? b-How many Tls do you need to pay USD 10 Million and when? Question 3 20 Minutes 23-(20%) A Turkish importer company has a payment obligation of USD 10 Million 6 months from now. The company management wants to fix the cash flow from today. The market parameters are as follows; Spot TL/USD 6.80/6.90 %pa USD interest rate for 6 months 2.5/3.5 % pa TL interest rate for 6 months 12.0/15.0 % pa a-What is the minimum TL/USD Forward rate for the date 6 months from today that the bank can quote? b-How many Tls do you need to pay USD 10 Million and when

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