Question
The foreign exchange department at Tokyo's Daiwa Bank quoted the spot rate on the euro at 0.007040/. The 90-day forward rate is quoted at a
The foreign exchange department at Tokyo's Daiwa Bank quoted the spot rate on the euro at 0.007040/. The 90-day forward rate is quoted at a premium of 4.50 percent on the euro. What is the 90-day forward rate?(Round answer to 6 decimal places, e.g. 15.251945. Use 360 days for calculation.)
Forward rate _______/
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
