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咖啡巧克力 · 2024年08月25日

A

  1. CFA I
  2. Economics Analysis

NO.PZ2023071902000004

问题如下：

Question

Based on the FX data provided in the table, which statement is most accurate?

选项：

A.The forward rate is trading at a discount to the spot rate by 0.0049 points.

B.The euro has a forward premium of 49 points.

C.The US dollar has a forward premium of 49 points.

解释：

Solution
  1. Forward premium = Forward rate – Spot rate = 1.3019 – 1.2970 = 0.0049. To convert this to points, multiply by 10,000 (considering four decimal places) = 10,000 × 0.0049 = 49 points. As the forward rate is higher than the spot rate for the base currency (euro), it implies that the euro is trading at a forward premium of 49 points.


Exchange Rate Calculations

• explain the arbitrage relationship between spot and forward exchange rates and interest rates, calculate a forward rate using points or in percentage terms, and interpret a forward discount or premium

远期溢价=远期汇率-即期汇率= 1.3019 - 1.2970 = 0.0049。

要将其转换为POINT，就乘以10,000(考虑到小数点后四位)= 10,000 × 0.0049 = 49个点。

由于基准货币(欧元)的远期汇率高于即期汇率，这意味着欧元的远期溢价为49个点。

请问A是不是说反了？应该是premium 而非duscount？

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1 个答案

笛子_品职助教 · 2024年08月26日

嗨，爱思考的PZer你好：


请问A是不是说反了？应该是premium 而非duscount？

Hello，亲爱的同学~

是的，同学理解正确。

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