smuggycfa

Forward Bid = Spot Bid*(1+RDC(Bid)/1+RFC(ask))

Forward Ask = Spot Ask*(1+RDC(ask)/1+RFC(bid))

The way I remember is:

1) You only have foreign on top when using price levels to calculate real exchange rates. Anything else and it's DOT. Domestic On Top.

2) Asking for bid forward, bid by bid on top.

3) Asking for ask forward, ask by ask on top.

Hope it makes sense - does for me.