"economics"exercise:Forward rate

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Questions 1:

Assume the following:

economics exercise:Forward rate

The USD/AUD spot rate is closest to:

A 、1.0296.

B 、1.0425.

C 、1.1154.

Questions 2:

If the domestic currency is trading at a forward premium, then relative to the interest rate of the domestic country, the interest rate in the foreign country is most likely:

A、 lower.

B、 higher.

C 、the same.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct.

economics exercise:Forward rate

A is incorrect. It incorrectly subtracts forward premium from 1. (1 – 400/10000) × 1.43 = 1.3728 1.3728 × 0.75 = 1.0296

C is incorrect. It incorrectly adds forward premium to 1. (1 + 400/10000) × 1.43 = 1.4872 1.4872 × 0.75 = 1.1154

【Answer to question 2】B

【analysis】

B is correct. The currency with the higher (lower) interest rate will always trade at a discount (premium) in the forward market. The lower interest rate in the domestic country will be offset by the appreciation of the domestic country’s currency over the investment horizon.

A is incorrect because the forward rate is trading at a premium and not at a discount.

C is incorrect because the forward rate does not equal the spot rate.

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