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What will the asking rate have to be for foreign exchange

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Question 1: The spot rate on the London market is £0.5535/$, while the 90-day forward rate is £0.5592/$. What is the annualized forward premium or discount on the British pound?

Question 2: The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$0.9288/$. If the bank typically tries to make a bid-ask spread of 0.5 percent on these foreign exchange transactions, what will the asking rate have to be?

Reference no: EM132873671

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