Page 20 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0649%u0644 %u062d%u0642 %u0627%u0645%u0644%u0624%u0644%u0641 20 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629Example 2:Assume that the spot rate of the Euro is equal to $1.11, the spot rate of the Egyptian pound is equal to $.054, the three-month forward rate of the Euro is $1.12, and the three-month forward rate of the Egyptian pound is $0.052.-What is the three-month forward premium or discount for the Euro in American terms, and for the Egyptian pound in American terms?Answer:F90, %u20ac Versus $ = %ud835%udc6d%ud835%udc6d90 ($/%u20ac) %u2212%ud835%udc7a%ud835%udc7a ($/%u20ac) %u00d7 %ud835%udfd1%ud835%udfd1%ud835%udfd4%ud835%udfd4%ud835%udfce%ud835%udfce%ud835%udc7a%ud835%udc7a($/%u20ac) 90= 1.12 %u2013 1.11 %u00d7 %ud835%udfd1%ud835%udfd1%ud835%udfd4%ud835%udfd4%ud835%udfce%ud835%udfce1.11 90 = premium 3.6%F90, EGP Versus $ = %ud835%udc6d%ud835%udc6d90 ($/EGP) %u2212%ud835%udc7a%ud835%udc7a ($/EGP) %u00d7 %ud835%udfd1%ud835%udfd1%ud835%udfd4%ud835%udfd4%ud835%udfce%ud835%udfce%ud835%udc7a%ud835%udc7a($/EGP) 90= 0.052 %u2013 0.054 %u00d7 %ud835%udfd1%ud835%udfd1%ud835%udfd4%ud835%udfd4%ud835%udfce%ud835%udfce0.054 90 = discount -14.8%How to calculate the profits or losses from the future contracts? Example:Assume that you would like to buy or sell %u20ac2,000,000; the current spot exchange rate is $1.09/%u20ac. and the three-month forward rate is $1.10/%u20ac.A. If you expect that the spot exchange rate of the Euro will be equal to $1.11 in three months, what actions do you need to speculate in the forward market, and what will be the dollar profit or losses from your speculation in the forward market?B. If the real spot exchange rate will be 1.08 after three months, what will the dollar profit or losses be from your speculation in the forward market?