(Bid, spot, and forward? rates) The data for the following problem is given:
Country-Currency Contract $/Foreign Currency
Canada-dollar Spot 0.8582
30-day 0.8562
90-day 0.8540
Japan-yen Spot 0.004465
30-day 0.004498
90-day 0.004562
Switzerland-franc Spot 0.5178
30-day 0.5208
90-day 0.5354
The spreads on the contracts as a percent of the asked rates are 3 percent for? yen, 2 percent for Canadian? dollars, and 7 percent for Swiss francs. Calculate the bid rates for the different spot and forward rates.