Using the table, calculate the 6-month forward premium or discount (expressed as an annual percentage rate) for the Canadian dollar in terms of US dollars.

Country

USD per Currency Currency per USD

British pound

spot rate 1.7368 0.5758

1 month forward 1.7369 0.5757

3 months forward 1.7380 0.5754

6 months forward 1.7409 0.5744

Canadian dollar

spot rate 0.8667 1.1538

1 month forward 0.8674 1.1529

3 months forward 0.8688 1.1510

6 months forward 0.8708 1.1484

IM AWARE OF THE FORMULA (FORWARD RATE- SPOT RATE)/ SPOT RATE* 360/N*100%)

BUT IM NOT TOO SURE IF I AM SUPPOSED TO USE THE USD PER CURRENCY FIGURES OR CURRENCY PER USD AND HOW DO YOU EASILY NAVIGATE TO THAT WITH OTHER SIMILAR QUESTIONS