CFA Economics 一个菜鸟问题 forward, interest, exchange, currency, following

wkewang

The Mexican direct forward exchange rate with the US dollar is higher than that indicated by IRP. Which of following choices would not be part of a currency trader's risk-free profit trading strategy?

A. Sell USD at spot rate (USD/MXP)   B. Sell USD forward     C. Lend USD at the US interest rate   D. Borrow MXP at the Mexican interest rate

答案 a  但我认为是b

推导过程如下：  direct (MXP/USD) higher--> indirect USD/MXP lower -->  MXP undervalued --> trader should borrow MXP now = lend USD now = buy MXP now = sell USD now = sell MXP forward = buy USD forward

所以 a c d 正确 b 错误

还请大虾们指正 谢谢

wkewang

还请胡老师指教 谢谢

胡老师

MXP undervalued的话，应该借入MXP现在，兑换成美元，再贷出去，到期的时候，应该卖出美元，所以，现在应该卖出美元远期。