The spot exchange rate is 1.57 dollars per pound. The 30-day forward exchange rate is...
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Accounting
The spot exchange rate is 1.57 dollars per pound. The 30-day forward exchange rate is .6211 pounds per dollar. Therefore, pounds in the forward market are selling at a ________ to the current spot rate.
Select one:
a. .04 premium
b. .958 premium
c. .04 discount
d. .958 discount
explain please
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