定价举例 Text Pricing EXample us 5 k 6 Eo=$1.60 per pound T=l yr 1.05 Fn=$1.60 =$1.585 1.06 当r小于ru时,F肯定小于E,由F0比E得到的美元升值程 度正好可以与两国利率之间的差额抵消。当然,如果情况相反 结论依然成立:当「v大于r时,F肯定大于E When rus is less than ruk, Fo must be less than EO. The appreciation of the dollar embodied in the ratio of Fo to Eo exactly compensates for the difference in interest rates available in the two countries. Of course, the argument also works in reverse: If rus is greater than ruk, then Fo is greater than EO 23-523-5 定价举例 Text Pricing Example rus = 5% ruk = 6% E0 = $1.60 per pound T = 1 yr $1.585 1.06 1.05 $1.60 1 0  =      F = 当r us小于r uk时，F0肯定小于E0，由F0比E0得到的美元升值程 度正好可以与两国利率之间 的差额抵消。当然，如果情况相反 结论依然成立：当 r us大于r uk时，F0肯定大于E0。 When rus is less than ruk, F0 must be less than E0. The appreciation of the dollar embodied in the ratio of F0 to E0 exactly compensates for the difference in interest rates available in the two countries. Of course, the argument also works in reverse: If rus is greater than ruk, then F0 is greater than E0