redskins44

ha, my 2013 books haven’t arrived, I’m using the 2012 books, that’s why. but to my confusion 1, it says the current spot rate is $1.76. Why would you discount it by the foreign rate? doesn’t that mean you get last year rate if this logic apply?(discount current year with the foreign interest rate i meant)
for my confusion 2, i would say the same thing, if you get 1 pound and discount it with the rate, it would give you how much this 1 pound should have been worth last year…no?
I guess i’m just confused why would you discount the rate on the current spot rate. Please help! thanks so much