Question
The foreign exchange department at Tokyo's Daiwa Bank quoted the spot rate on the euro at 0.007030/. 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 0.007030/. The 90-day forward rate is quoted at a premium of 5.00 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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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
