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[solution]: 4. Using Spot and Forward Exchange Rates Suppose the spot exchange rate for the Canadian dollar...


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4.        Using Spot and Forward Exchange Rates   Suppose the spot exchange rate for the Canadian dollar is Can$1.05 and the six-month forward rate is Can$1.07. a.   Which is worth more, a U.S. dollar or a Canadian dollar? b.   Assuming absolute PPP holds, what is the cost in the United States of an Elkhead beer if the price in Canada is Can$2.50? Why might the beer actually sell at a different price in the United States? c.    Is the U.S. dollar selling at a premium or a discount relative to the Canadian dollar?       d.   Which currency is expected to appreciate in value? e.    Which country do you think has higher interest rates—the United States or Canada? Explain.    

 


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