Question
The foreign exchange department at Tokyo's Daiwa Bank quoted the spot rate on the euro at 0.007000/. 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 0.007000/. The 90-day forward rate is quoted at a premium of 4.20 percent on the euro. What is the 90-day forward rate? 6 decimal places.
I keep getting .007735 and it is not right. Can you show me, in detail, how to fix it?
Forward rate
/
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
