Question
The foreign exchange department at Tokyos Daiwa Bank quoted the spot rate on the euro at 0.007215/. The 90-day forward rate is quoted at a
The foreign exchange department at Tokyos Daiwa Bank quoted the spot rate on the euro at 0.007215/. The 90-day forward rate is quoted at a premium of 4.60 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.)
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
