By knowing the interest rates and spot exchange rates of two currencies, experts can solve the known spot exchange rate and swap exchange rate, and the buying exchange rate and forward exchange rate in selective foreign exchange transactions. 1.

(1) One-month forward exchange rate: USD/CHF = (1.6620-0.0365)/(1.6640-0.0245) =1.6255-/kloc-0.

Three-month forward exchange rate: USD/CHF = (1.6620-0.0350)/(1.6640-0.0310) =1.6270-1.

1 month to 3 months: USD/CHF = 1.6270- 1.6395.

The exchange rate for banks to buy USD is 1.6270, and the exchange rate for customers to buy USD (the bank sells USD) is 1.6395.

(2) one-month forward exchange rate: USD/CHF = (1.6620+0.0245)/(1.6640+0.0265) =1.6865-1.6905.

Three-month forward exchange rate: USD/CHF = (1.6620+0.0310)/(1.6640+0.0350) =1.6930-1.

1 month to 3 months: USD/CHF = 1.6865- 1.6990.

The exchange rate for banks to buy USD is 1.6865, and the exchange rate for customers to buy USD (the bank sells USD) is 1.6990.

2.

This is a question of calculating the equilibrium exchange rate.

The interest rate of Hong Kong dollars is 6%, the interest rate of US dollars is 2%, and the spot exchange rate is US dollars /HKD=7.8850/70, so that you can borrow US dollars (for three months, if the deposit and loan interest rates are the same), convert them into Hong Kong dollars at the spot, deposit them (for three months, the interest rate is 4%), withdraw them with interest after three months, and then convert them into US dollars (the forward exchange rate is set to R).

1 * 7.8850 *( 1+6%/4)/r 1 = 1 *( 1+2%/4)，R 1=7.9635

Similarly, another exchange rate level can be calculated:

1/7.8870 *( 1+2%/4)* R2 =( 1+6%/4)，R2=7.9655

The 3-month forward exchange rate is USD /HKD=7.9635/55.

Obviously, R has become larger, that is to say, the exchange rate parity of economist Keynes mainly refers to the long-term depreciation of currencies with high spot interest rates.