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Forward Premium on the Dollar. Calculate the forward premium on the dollar if the spot rate is $1.5800 = 1 00 and the 6-month forward rate is $1.5550 = 1.00. Note: Use a 360-day year. The forward premium on the dollar is -3.1646 %. (Round to four decimal places) (Select from the drop-down menus.) The positive premium indicates that the pound is selling forward at a (1) to the dollar, and simultaneously, the dollar is selling forward at a (2) to the pound. That is the forward rate requires fewer US dollars in exchange for pounds than the current spot rate (1) O premium discount (2) discount o premium