Indirect quote /cross rate
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Use the following data in your responses to the remaining questions:
Selling Quotes for Foreign Currencies in New York
Canada's dollar Spot .8450
30-day .8415
90-day .8390
Japan's yen Spot .004700
30-day .004750
90-day .004820
Switzerland's franc Spot .5150
30-day .5182
90-day .5328
a. Compute the indirect quote for the spot and forward Canadian dollar contract.
b. Compute the Canadian dollar/yen spot rate from the data in the preceding table
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Solution Summary
The solution explains how to calculate the indirect quote and the cross rate for the given question regarding international currencies.
Solution Preview
a. In the indirect quote we quote the foreign currency per unit of local currency. In terms of indirect quote we need ...
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