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Category > Business & Finance Posted 22 Jul 2017 My Price 12.00

Covered Interest Arbitrage Henri Jacque,

Covered Interest Arbitrage Henri Jacque, an arbitrager with Bank of Montreal, faces the following Canadian dollar/U.S. dollar quotes:

Spot rate:

C$1.4900/$

Six-month forward rate:

C$1.5100/$

Six-month Canadian dollar interest rate

(borrowing or investing):

7.50% p.a.

 

Six-month U.S. dollar interest rate

(borrowing or investing)

5.00% pa.

Henri Jacque is authorized to use C$20,000,000 or its U.S. dollar equivalent. The ending profit, if any, should be realized in Canadian dollars. How can he complete covered interest arbitrage? What will be his profit?

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Status NEW Posted 22 Jul 2017 12:07 PM My Price 12.00

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