8. Below are recent spot exchange quotes and one-year forward PIPs on the Euro and Russian ruble. Explicit forward quotes are obtained by dividing the bid and ask PIPs by 10,000 and then adding them to the respective spot bid and ask. Complete the table. Show forward exchange rates to the same decimal precision as the spot rates provided for each currency. Spot exchange rates bid ask One-year forward PIPs bid ask One-year forward rates bid ask EUR/USD $1.1900 $1.1905 100 105 a $ bS USD/RUB 75.50 75.70 29,000 29,500 c d Identify the swap rate associated with selling EUR for USD spot and buying EUR with USD one year forward. A 0.80% B 0.85% C 0.92% Identify the swap rate associated with buying USD with RUB spot and selling USD for RUB one year forward. A -3.44% B -3.60% C -4.01% 2 8. Below are recent spot exchange quotes and one-year forward PIPs on the Euro and Russian ruble. Explicit forward quotes are obtained by dividing the bid and ask PIPs by 10,000 and then adding them to the respective spot bid and ask. Complete the table. Show forward exchange rates to the same decimal precision as the spot rates provided for each currency. Spot exchange rates bid ask One-year forward PIPs bid ask One-year forward rates bid ask EUR/USD $1.1900 $1.1905 100 105 a $ bS USD/RUB 75.50 75.70 29,000 29,500 c d Identify the swap rate associated with selling EUR for USD spot and buying EUR with USD one year forward. A 0.80% B 0.85% C 0.92% Identify the swap rate associated with buying USD with RUB spot and selling USD for RUB one year forward. A -3.44% B -3.60% C -4.01% 2