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Business, 15.10.2020 08:01 PushyGorilla
Diamond Bank expects that the Singapore dollar will depreciate against the dollar from its spot rate of $.43 to $.42 in 60 days. The following interbank lending and borrowing rates exist:
Lending Rate Borrowing Rate
U. S. dollar 7.0% 7.2%
Singapore dollar 22.0% 24.0%
Diamond Bank considers borrowing 10 million Singapore dollars in the interbank market and investing the funds in dollars for 60 days.
Required:
a. Estimate the profits (or losses) that could be earned from this strategy.
b. Should Diamond Bank pursue this strategy?
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Diamond Bank expects that the Singapore dollar will depreciate against the dollar from its spot rate...
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