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The following exchange rate quotations are given: Spot C$/U$ = 1.2875 and 3-month fwd. C$/U$ = 1.2552. Obtain the premium (discount) on Canadian Dollar. 10.29%

The following exchange rate quotations are given: Spot C$/U$ = 1.2875 and 3-month fwd. C$/U$ = 1.2552. Obtain the premium (discount) on Canadian Dollar.

10.29% premium

3.23% premium

2.57% discount.

10.03% discount.

None of the above answers is correct.

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