70 ~ 90, first small, then big, indirect pricing method: discount, plus.
1.5800+0.0070= 1.5870
1.5820+0.0090= 1.59 10
The three-month forward exchange rate of GBP against USD is:
1=1.5870 ~1.5910 USD.
Extended data:
For example, the one-month interbank lending rate of USD is 2.46%, the interest rate of JPY is 0. 1 1%, and the spot exchange rate of USD/JPY is 120.45. Using these factors, we can calculate the one-month forward exchange rate of yen/dollar:
One-month yen/dollar exchange rate =120.45+120.45× (0.11%-2.46% )× 30 ÷ 360 =120.45+.
Similarly, it is not difficult to understand why the forward settlement price of China Bank at 1997 is as high as 8.4 or above. At that time, the RMB capital market was in short supply, and the interbank lending rate of RMB was as high as double digits (assuming 13%), while the interbank lending rate of US dollar was less than 5%. Accordingly, the four-month forward exchange rate of RMB/USD is calculated as follows
The four-month RMB/USD exchange rate = 8.27+8.27× (13%-5% )×120 ÷ 360 = 8.27+0.22 = 8.49.
Baidu encyclopedia-forward exchange rate