Question
The foreign exchange department at Tokyos Daiwa Bank quoted the spot rate on the euro at 0.007070/. 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 0.007070/. The 90-day forward rate is quoted at a premium of 5.50 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.)
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Capital As Power
Authors: Jonathan Nitzan, Shimshon Bichler
1st Edition
0415496802, 978-0415496803
