Question $2$

As a foreign exchange trader at Sumitomo Bank, one of your customers would like a yen quote

on Australian dollars. Current market rates are:

$101\mathrm{.}37-101\mathrm{.}85=US$$$1$

$A$$$1\mathrm{.}2924-A$$$1\mathrm{.}2944=US$$$1$

a$.$ What bid and ask yen cross rates would you quote on spot Australian dollars?

b$.30-$day forward rates are:

$101\mathrm{.}22-101\mathrm{.}72=US$$$1$

$A$$$1\mathrm{.}2940-A$$$1\mathrm{.}2970=US$$$1$

What bid and ask yen cross rates would you quote on $30-$day forward Australian dollars?

c$.$ What is the forward premium or discount on buying $30-$day Australian dollars against yen

delivery?