The value of the JGB long forward position is closest to:
"Japanese Government Bonds
After discussing Kemper’s new investment ideas, Doyle and Kemper evaluate one of their existing forward contract positions. Three months ago, BestFutures took a long position in eight 10-year Japanese government bond (JGB) forward contracts, with each contract having a contract notional value of 100 million yen. The contracts had a price of JPY153 (quoted as a percentage of par) when the contracts were purchased.
Now, the contracts have six months left to expiration and have a price of JPY155. The annualized six-month interest rate is 0.12%. Doyle asks Kemper to value the JGB forward position."
我的问题是 :JPY 155 和 JPY 153 为什么不是当时的现价,而是FP0 和 FP3, 是因为到期时PAR VALUE =100的原因吗?