开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

欧阳美蛋 · 2024年01月18日

A选项怎么不对

  1. CFA I
  2. Economics Analysis

NO.PZ2023061903000026

问题如下：

Q. A forward premium indicates:

选项：

A.an expected increase in demand for the base currency. B.the interest rate is higher in the base currency than in the price currency. C.the interest rate is higher in the price currency than in the base currency.

解释：

C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forward exchange rate (F), the interest rate in the base currency (rd, and the interest rate in the price currency (rf) must satisfy:

Ff/d/ Sf/d = (1+rfτ / 1+rdτ).

According to this formula, the base currency will trade at forward premium (F > S) if, and only if, the interest rate in the price currency is higher than the interest rate in the base currency (rf > rd).

这题A选项怎么不对，C能推出A吧

添加评论
1 个答案

笛子_品职助教 · 2024年01月19日

嗨，爱思考的PZer你好：


这题A选项怎么不对，C能推出A吧

Hello，亲爱的同学~

A的说法不够准确。

forward premium是指，forward的价格，高于spot的价格。

forward premium并不一定表示，base currency的需求会增加。


举例来说：在货币贬值的趋势里，也可以有forward价格高于spot价格，此时base currency的需求并没有增加。

----------------------------------------------
努力的时光都是限量版，加油！

cst6666 · 2024年07月06日

在货币贬值的趋势里，也可以有forward价格高于spot价格, 这个可以论证吗？还是说因为市场的一些非理性的不确定性造成的

  • 1

    回答

  • 0

    关注

  • 301

    浏览
相关问题

NO.PZ2023061903000026 问题如下 Q. A forwarpremium incates: A.expecteincrease in manfor the base currency. B.the interest rate is higher in the base currenthin the pricurrency. C.the interest rate is higher in the pricurrenthin the base currency. C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ ）/（ 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r. C正确。为了消除套利机会，即期汇率(S)、远期汇率(F)、基准货币利率(r和价格货币利率(rf)必须满足:Ff/ Sf/= (1+rfτ） /（ 1+r)。根据该公式，当且仅当价格货币的利率高于基础货币的利率(rf r时，基础货币将以远期溢价(F S)进行交易。 请问A为什么错了呢？

2024-11-13 13:04 1 · 回答

NO.PZ2023061903000026 问题如下 Q. A forwarpremium incates: A.expecteincrease in manfor the base currency. B.the interest rate is higher in the base currenthin the pricurrency. C.the interest rate is higher in the pricurrenthin the base currency. C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ ）/（ 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r. C正确。为了消除套利机会，即期汇率(S)、远期汇率(F)、基准货币利率(r和价格货币利率(rf)必须满足:Ff/ Sf/= (1+rfτ） /（ 1+r)。根据该公式，当且仅当价格货币的利率高于基础货币的利率(rf r时，基础货币将以远期溢价(F S)进行交易。 这个题 forwarpermium 应该是指price/base 表达式未来会上升，那不就是Base currency升值么，应该是base curren的man上升啊问题如下Q. A forwarpremium incates:A.expecteincrease in manfor the base currency. B.the interest rate is higher in the base currenthin the pricurrency. C.the interest rate is higher in the pricurrenthin the base currency.C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ ）/（ 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r.C正确。为了消除套利机会，即期汇率(S)、远期汇率(F)、基准货币利率(r和价格货币利率(rf)必须满足:Ff/ Sf/= (1+rfτ） /（ 1+r)。根据该公式，当且仅当价格货币的利率高于基础货币的利率(rf r时，基础货币将以远期溢价(F S)进行交易。

2024-08-17 16:24 1 · 回答

NO.PZ2023061903000026 问题如下 Q. A forwarpremium incates: A.expecteincrease in manfor the base currency. B.the interest rate is higher in the base currenthin the pricurrency. C.the interest rate is higher in the pricurrenthin the base currency. C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ ）/（ 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r. C正确。为了消除套利机会，即期汇率(S)、远期汇率(F)、基准货币利率(r和价格货币利率(rf)必须满足:Ff/ Sf/= (1+rfτ） /（ 1+r)。根据该公式，当且仅当价格货币的利率高于基础货币的利率(rf r时，基础货币将以远期溢价(F S)进行交易。 如果base currency的利率，高于pricurrency，则base currency远期贬值，base currency的forwar水。如果base currency的利率，低于pricurrency，则base currency远期升值，base currency的forwar水。这两个推论，是因为，如果base currency的利率，高于pricurrency，则资金涌入base货币国，即期汇率升值，远期汇率贬值。是这个意思吗？如果不是，是怎么推出来的？

2024-08-07 22:09 2 · 回答

NO.PZ2023061903000026 问题如下 Q. A forwarpremium incates: A.expecteincrease in manfor the base currency. B.the interest rate is higher in the base currenthin the pricurrency. C.the interest rate is higher in the pricurrenthin the base currency. C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ ）/（ 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r. C正确。为了消除套利机会，即期汇率(S)、远期汇率(F)、基准货币利率(r和价格货币利率(rf)必须满足:Ff/ Sf/= (1+rfτ） /（ 1+r)。根据该公式，当且仅当价格货币的利率高于基础货币的利率(rf r时，基础货币将以远期溢价(F S)进行交易。 解析看不懂

2024-07-16 20:03 1 · 回答

NO.PZ2023061903000026问题如下 Q. A forwarpremium incates:A.expecteincrease in manfor the base currency.B.the interest rate is higher in the base currenthin the pricurrency.C.the interest rate is higher in the pricurrenthin the base currency.C is correct. To eliminate arbitrage opportunities, the spot exchange rate (S), the forwarexchange rate (F), the interest rate in the base curren(r anthe interest rate in the pricurren(rf) must satisfy:Ff/ Sf/= (1+rfτ / 1+r).Accorng to this formulthe base currenwill tra forwarpremium (F S) if, anonly if, the interest rate in the pricurrenis higher ththe interest rate in the base curren(rf r.A 预期价格要上涨，不就是远期升水吗？还有C为什么对？怎么推出了的？

2024-04-23 08:06 1 · 回答