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The following are exchange rates observed in the local foreign currency market. TZS/Euro Spot 1,890.00-1,892.00 TZS/Euro one month forward 1,894.025-1,897.05 Canadian Dollar/Euro spot 3.4582-3.4600 Canadian

The following are exchange rates observed in the local foreign currency market.

TZS/Euro Spot 1,890.00-1,892.00

TZS/Euro one month forward 1,894.025-1,897.05

Canadian Dollar/Euro spot 3.4582-3.4600

Canadian Dollar/Euro one month forward 3.4530-3.4553

Required:

i. Compute the one month forward cross rate for buying and selling the Tanzanian shilling [TZS] against the Canadian Dollar.

ii, Determine whether the forward selling of TZS against the Canadian Dollar is at premium or discount and by how much

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