You are in need of Australian dollars in six months, but before entering a forward contract to buy them, you would like to know their premium or discount from the existing spot rate. Calculate the premium or discount from the existing spot rate for the six-month Australian dollar as of December 26, 2012, using the data given in Table19.1.

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Currency United States dollar (USD S) Euro EUR (EUR Japanese yen (JPY ¥) Pound sterling (GBP E) Swiss franc (CHR Fr) Australian dollar (AUD S) Canadian dollar (CAD $) Hong Kong dollar (HKD ) Swedish krona (SEK kr) Norwegian krone (NOK kr) New Zealand dollar (NZD $) Mexican peso (MXN $) Other Total % Daily Share of Total Volume Rank 84.9 391 % 19.0% 12.9% 64% 7.6% 5.3% 2.4% 2.2% 2.2% 1.6 1.3% 18.6 9-10 9-10 12 2100%