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- 2011-7-11
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12#
发表于 2011-7-13 14:55
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You want to use the real required rate of return, so just subtract out inflation. they do the same thing in derivatives where they use the linear approximation for currency appreciation/depreciation instead of using the exact calculation.
Inflation in US 5%
Inflation in UK 2%
thus you expect UK to appreciate by 3% even though the exact calc is
[1+rDC/1+rFC] - 1= [1.05/1.03] -1 = 2.94% |
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