Question: & Problem 7 Using Exhibit 5.4, calculate the one-, three-, and six-month forward premium or discount for the U.S. dollar versus the British pound using

& Problem 7 Using Exhibit 5.4, calculate the one-, three-, and

six-month forward premium or discount for the U.S. dollar versus the British

pound using European quotations. For simplicity, assume each month has 30 days.

What is the interpretation for your results? EXHIBIT 5.4 Exchange Rates a

& Problem 7 Using Exhibit 5.4, calculate the one-, three-, and six-month forward premium or discount for the U.S. dollar versus the British pound using European quotations. For simplicity, assume each month has 30 days. What is the interpretation for your results? EXHIBIT 5.4 Exchange Rates a May 15, 2016 EXHIBIT 5.4 Exchange Rates Currencies May 16, 2016 U.S. dollar foreign exchange rates in late New York trading Mon - in US$ Per US$ Mon in USS Per US$ 02832 .00004500 35.420 22220 Country/currency Americas Argentina peso Brazil real Canada dollar Chile peso Colombia peso Ecuador US dollar Mexico peso Peru new sol Uruguay peso Venezuela b. fuerte Asia-Pacific Australian dollar 1-mos forward 3-mos forward 6 mos forward China yuan Hong Kong dollar 0708 2856 .7755 .001440 .000330 1 .0546 3003 .03242 100125 14.134 3.5014 1.2895 694.28 3028.50 1 18.306 3.330 30.8450 9.9875 04186 .1520 1.1321 1.1331 1.1353 1.1389 .003593 .1224 2570 .01527 .1211 1.0229 1.0242 1.0270 1.0318 3371 1.4402 1.4403 1.4407 1.4416 Country/currency Thailand baht Vietnam dong Europe Czech Rep. koruna Denmark krone Euro area euro 1 mos forward 3 mos forward 6 mos forward Hungary forint Norway Krone Poland zloty Russia ruble Sweden krona Switzerland franc 1 mos forward 3-mos forward 6 mos forward Turkey lira UK pound 1 mos forward 3 mos forward 6 mos forward Middle East/Africa Bahrain dinar Egypt pound Israel Shekel Jordan dinar Kuwait dinar Lebanon pound Saudi Arabia riyal South Africa rand UAE dirham 23.889 6.5795 8833 8825 8808 .8780 278.30 8.1732 3.8915 65.482 8.2610 9776 9764 9737 .9692 2.9667 .6944 .6943 .6941 .6937 India rupee 7289 .7280 .7264 7242 .1534 .1288 01497 .0000751 .009172 009179 .009198 009230 2483 6759 .00956 0215 .7302 .0008477 .03064 Indonesia rupiah Japan yen 1-mos forward 3-mos forward 6-mos forward Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Taiwan dollar 1.3720 1.3737 1.3767 1.3809 6.5205 7.7637 66.805 13310 109.03 108.94 108.72 108.34 4.0273 1.4795 104.60 46.450 1.3695 1979.66 32.642 2.6523 1133 2617 1.4097 3.3141 .0006636 2666 .0650 2723 .3770 8.8298 3.8210 .7094 3017 1507.00 3.7503 15.3900 3.6729 Sourses Compiled from Rinamhern date My 16 2016 and for ANDA EXHIBIT 5.4 Exchange Rates Currencies May 16, 2016 U.S. dollar foreign exchange rates in late New York trading Mon - in US$ Per US$ Mon in USS Per US$ 02832 .00004500 35.420 22220 Country/currency Americas Argentina peso Brazil real Canada dollar Chile peso Colombia peso Ecuador US dollar Mexico peso Peru new sol Uruguay peso Venezuela b. fuerte Asia-Pacific Australian dollar 1-mos forward 3-mos forward 6 mos forward China yuan Hong Kong dollar 0708 2856 .7755 .001440 .000330 1 .0546 3003 .03242 100125 14.134 3.5014 1.2895 694.28 3028.50 1 18.306 3.330 30.8450 9.9875 04186 .1520 1.1321 1.1331 1.1353 1.1389 .003593 .1224 2570 .01527 .1211 1.0229 1.0242 1.0270 1.0318 3371 1.4402 1.4403 1.4407 1.4416 Country/currency Thailand baht Vietnam dong Europe Czech Rep. koruna Denmark krone Euro area euro 1 mos forward 3 mos forward 6 mos forward Hungary forint Norway Krone Poland zloty Russia ruble Sweden krona Switzerland franc 1 mos forward 3-mos forward 6 mos forward Turkey lira UK pound 1 mos forward 3 mos forward 6 mos forward Middle East/Africa Bahrain dinar Egypt pound Israel Shekel Jordan dinar Kuwait dinar Lebanon pound Saudi Arabia riyal South Africa rand UAE dirham 23.889 6.5795 8833 8825 8808 .8780 278.30 8.1732 3.8915 65.482 8.2610 9776 9764 9737 .9692 2.9667 .6944 .6943 .6941 .6937 India rupee 7289 .7280 .7264 7242 .1534 .1288 01497 .0000751 .009172 009179 .009198 009230 2483 6759 .00956 0215 .7302 .0008477 .03064 Indonesia rupiah Japan yen 1-mos forward 3-mos forward 6-mos forward Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Taiwan dollar 1.3720 1.3737 1.3767 1.3809 6.5205 7.7637 66.805 13310 109.03 108.94 108.72 108.34 4.0273 1.4795 104.60 46.450 1.3695 1979.66 32.642 2.6523 1133 2617 1.4097 3.3141 .0006636 2666 .0650 2723 .3770 8.8298 3.8210 .7094 3017 1507.00 3.7503 15.3900 3.6729 Sourses Compiled from Rinamhern date My 16 2016 and for ANDA Mon in USS Per USS 02832 .00004500 35.420 22220 Chile peso Colombia peso May 15, 2016 US Dollar foreign exchange rates in late New York trading Country/currency Mon Thailand baht Country/currency in US$ Per US$ Vietnam dong Americas Europe Argentina peso .0708 14.134 Czech Rep. koruna Brazil real 2856 3.5014 Denmark krone Canada dollar 7755 1.2895 Euro area euro .001440 694.28 1 mos forward 000330 3028.50 3 mos forward Ecuador US dollar 1 1 6 mos forward Mexico peso 0546 18.306 Hungary forint Peru new sol 3003 3.330 Norway Krone Uruguay peso 03242 30.8450 Poland Zloty Venezuela b. fuerte .100125 9.9875 Russia ruble Asia-Pacific Sweden krona Australian dollar 7289 1.3720 Switzerland franc 1-mos forward .7280 1.3737 1-mos forward 7264 3-mos forward 3 mos forward 1.3767 6-mos forward 7242 1.3809 6 mos forward China yuan 1534 6.5205 Turkey lira Hong Kong dollar .1288 7.7637 UK pound India rupee .01497 66 805 1 mos forward Indonesia rupiah 0000751 13310 3 mos forward T09.03 .009172 6 mos forward Japan yen 1-mos forward 009179 108.94 Middle East Africa 3 mos forward 009198 108.72 Balmain dinar 108.34 809230 6 mos forward Egypt pound Malaysia ringgit 2483 4.0273 Israel shekel New Zealand dollar 6759 1.4795 Jordan dinar Pakistan rupee 00956 104.60 Kuwait dinar 0215 46.450 Lebanon pound Philippines peso 7302 Saudi Arabia riyal Singapore dollar South Korea w 0008472 1179.66 South Africa and 03064 32642 Tahman dollar UAE dirham 04186 1520 1.1321 1.1331 1.1353 1.1389 003593 1224 2570 01527 1211 1.0229 1.0242 1.0270 1.0318 3371 1.4402 1.4403 1.4407 1.4416 23.889 6.5795 8833 8825 8808 8780 278.30 8.1732 3.8915 65.482 8.26TO 9776 9764 .9737 9692 2.9667 6944 6943 6941 6937 2.6523 1133 2617 1.4097 3770 8.8.298 3.8210 70944 3017 10006636 2666 0650 2123 3.103 35.3900

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