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What should be annualize yield on three-month malaysian bill

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Reference no: EM13871933

A foreign exchange dealer in Tokyo provides the following quotes for spot exchange and 3-month forward exchange between the Malaysian ringgit (MR) and the U.S. dollar:

Bid (MR/$)

Ask (MR/$)

Spot

4.0040

4.0200

3-month forward

3.9690

3.9888

a. In New York, 3-month U.S. Treasury bills yield 7 percent per annum. What should be the annualized yield on 3-month Malaysian government bills? Use U.S. dollar ask quotes for simplicity.

b. Verify your answer to part a. with a hypothetical investment of $10 million for three months in each country. Use only ask quotes for simplicity and ignore other fees, charges, and taxes.

Reference no: EM13871933

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