Copenhagen covered a heidi hoi jensen a foreign exchange, Finance Basics

Copenhagen covered a heidi hoi jensen a foreign exchange

Question: Copenhagen Covered (A). Heidi Hoi Jensen, a foreign exchange trader at JPMorgan Chase, can invest $5 million, or the foreign currency equivalent of the bank's short term funds, in a covered interest arbitrage with Denmark. Using the following quotes, can Heidi make a covered interest arbitrage (CIA) profit?

Arbitrage Funds Available $5,000,000

Spot exchange rate (kr/$) 6.1720

3-month forward rate (kr/$) 6.1980

U.S. dollar 3-month interest rate 3.000%

Danish kroner 3-month interest rate 5.000%

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Finance Basics: Copenhagen covered a heidi hoi jensen a foreign exchange

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Finance Basics: Copenhagen covered a heidi hoi jensen a foreign exchange

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