题目内容

A U.S. firm expects to receive payment of €1.5 million in 90 days for exports to France. At an exchange rate of $1/€, the firm will make zero profits. If the exchange rate in 90 days turns out to be $0.90/€, assuming zero transaction costs, the firm will make

A. a profit of $150,000
B. a profit of $50,000
C. a loss of $150,000
D. a loss of $10,000

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In the forward market, if the base currency earns higher interest rate than the term currency, the base currency will be traded at a forward premium.

A FX swap is composed of two transactions with the same amounts, with different value dates and in opposite directions.

An interest rate swap is an exchange of interest payment ( e.g. fixed rate interest for floating) in the same currency. The FX swap is just like an interest rate swap except in more than one currency.

Foreign currency futures are available both over-the-counter and on organized exchanges.