Describe the interest rate parity theory, Financial Management

Assignment Help:

Question:

(a) Describe the Interest Rate Parity Theory.

(b) A company needs to pay in 3 months USD 1 million. The USD are already at disposal in the company, thus the company decides how to invest them in the given period. You have the following data:

$ 3-month deposit rate: 8% (annualised)
£ 3-month deposit rate: 10% (annualised)
Direct quotes: Spot rate: $1,80/£
3-month forward rate: $1,78/£

By giving detailed reasoning, answer the given questions:

(i) Where should the company invest in the USA or in UK?

(ii) Consider that the interest rates and the spot rate stay the same, what forward rate ensure that there is no arbitrage?

The price of the pound sterling in Paris is Euros 1.2724 and 2.0556 CHF in Zürich. In Frankfurt we can come across with the exchange rate Euro 0.6338/CHF.

(i) How is it possible for an arbitrageur from London to realize profits? Describe.

(ii) All else being equal, which rate in Paris would ensure the no arbitrage condition?


Related Discussions:- Describe the interest rate parity theory

Define accumulated depreciation, What is accumulated depreciation? Depr...

What is accumulated depreciation? Depreciation is the allocation of an initial cost over time of asset. Whereas the term accumulated depreciation is the total of all the deprec

Put option, Put Option This is a right which is granted in exchange for...

Put Option This is a right which is granted in exchange for an agreed-upon sum to sell property. Options are mostly used frequently in securities transactions it also used stoc

Interpretations of long term solvency or liquidity ratio''s, Long Term Solv...

Long Term Solvency or Liquidity Ratio's   DE:          The Debt Equity ratio exhibits the relation that exists between debt and proprietor's fund and is considered a very im

Forms of liquidity, Forms of Liquidity: Definition: Liquidity defines ...

Forms of Liquidity: Definition: Liquidity defines to how quickly and cheaply an asset will be converted into cash. Money (in the form of cash) is the most liquid asset. Assets

Protected put, Protected Put A protected put would involve a long put a...

Protected Put A protected put would involve a long put and a long stock. For example - ONGC. Underlying stock = Rs. 809 Buy Mar Rs. 900 Put @ Rs.68.8   Total cos

Scope of the content of the finance function, Q. Scope of the content of th...

Q. Scope of the content of the finance function? 1) Estimating of the finance requirement: the first task of a finance manager is to estimate and short terms and long terms fin

Compare potential liability of owners of proprietorships, Compare and contr...

Compare and contrast the potential liability of owners of proprietorships, partnerships (general partners), and corporations. The sole proprietor has infinite liability for mat

Describes the certainty equivalent coefficient method, Q. Describes the Cer...

Q. Describes the Certainty Equivalent Coefficient Method? Introduction: - Certainty equivalent coefficient process which makes adjustment against risk in the estimates of futur

Why does money have time value, Why does money have time value? Positiv...

Why does money have time value? Positive interest rates point toward that money has time value.  When one person lets one more borrow money, the first person needs compensation

Caselet, Suggestion regarding credit limit. should it be approved or not, w...

Suggestion regarding credit limit. should it be approved or not, what should be the amount of credit limit that electronics give to booth plastics

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd