The spot and 12-month forward rates in dollar per yen are C$0.011868 = 1 and C$0.012185, respectively. The forward rate for the Japanese yen is selling at a _________ to the spot rate.
A) Premium of 2.67%
B) Premium of 7.62%
C) Discount of 2.67%
D) Discount of 7.62
E) None of the above
Correct Answer:
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