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Міжнародні розрахунки та валюні операції - Savluk M.І.

11.1.4. Contract on the lama's date

Prote in the international trade often take place so that the date of payment is delisted for the date of the settlement of the land for the lines, but not for the standard ones, the terms of the forward lines , on the basis of 45 abon 98 dniv. So, I want to name the name of the date on the laman (broken date). Termin vikonannya takoї ugodi lay mіzh dmy standard terms (so zvanymi "short" and "dovgim" periodami). Same on the basis of forward points in the two standard definitions of the dates and the opening of the discount / discount on the lama's date. In such vipadkas kursovaya rіznitsya dvuh nablizhcheshih dates dilitsya on kіlkіst dnіv mіzh them, and the result is multiplied by kіlkіst dnіv mіzh lamanyu datoyu ta dovhim perіodom. The number is counted for forward points at the end of the period. Yakshco viklasti tsai rozhraunok u viglyadі form, then vona matime such viglyad:

De fwd BD - forward points for the lama date;

Fwd D - forward points for the previous period;

Fwd d - short-term forward points;

D - кількість днів довгого періоду;

D - the number of days in a short period;

BD - kіlkіst днів до ламаної дати.

Butt. 12th chernivnya klієnt zvernuvsya to the bank z prohannyam pokriti forward contract payment, sho moe vidbutisya 26-th lip, for zdіysnennya yakogo klієntu nehhіdno buy American dolari for europe. Necessarily rozrauvati course, for some sort of baked contract, for the name, but the bank is quoted as well as the US dollar sale rates:

EUR / USD 0.9535

1m fwd 15 pm

2m fwd 32 pm.

Date vikonannya danygo forward contract to є non-standard, standard dates є: 14-te lipnya, on tsyu date kotirivatsya odnosysyachny forward rate (contract period of 30 days), that 14-serpnya - dvoimysyachny forward (contract period 61 days). Period mіzh datoyu spot ta datoyu vikonannya contract on the lama date to become 42 days.

Розрахуємо премію:

32 - [(32-15) / (61-30) (61-42)] 22.

The forward rate will be: 0,9535 + 0,0022 = 0,9557.