3 months (1.6075-0.0030)/(1.6085-0.0020) =1.6045/1.6065;
12 months (1.6075+0.0020)/(1.6085+0.0050) =1.6095/1.61.
Calculation principle of forward exchange rate:
Forward remittance: If the number of forward points is less first and then more, the forward exchange rate will rise, then the forward exchange rate = spot exchange rate+forward remittance.
Forward remittance: If the number of forward points is large before it is small, the forward exchange rate will be discounted, so forward exchange rate = spot exchange rate-forward remittance.
Forward exchange rate, also known as forward exchange rate, refers to the exchange rate used when both parties reach a foreign exchange transaction agreement and agree to actually deliver foreign exchange at a certain time in the future. When the forward exchange rate reaches the delivery date, both parties to the agreement will make delivery according to the predetermined exchange rate and amount. Forward foreign exchange transaction is an appointment transaction, which is introduced to avoid foreign exchange risks because foreign exchange buyers need foreign exchange funds at different times.
Premium: in the money market, premium refers to adding points to the spot price to judge the forward or futures price. It is symmetrical with the discount. That is, when the quoted currency interest rate is less than the quoted currency interest rate. At this time, the exchange point is a positive number. In this case, the arrangement of exchange rate points is small on the left and large on the right.
Discount is the symmetry of a rising tide lifts all boats. The difference between the amount of local currency assets calculated at the forward exchange rate and the amount of foreign currency liabilities calculated at the spot exchange rate in a forward contract. That is, the phenomenon that the quoted currency interest rate is greater than the quoted currency interest rate, that is, the number of exchange points is less than zero. The exchange points are arranged in a way of large left and small right.