Assume that you are risk manager at BIC investment. BIC firm wants to fix currency rate for 5,000,000USD export transcation in 120 days and 3,000,000EURO import transcation in 180 days from AC Bank....

Assume that you are risk manager at BIC investment. BIC firm wants to fix currency rate for 5,000,000USD export transcation in 120 days and 3,000,000EURO import transcation in 180 days from AC Bank. Find bid and ask forward rate of AC Bank by using exchange rates and interest rate below.

USD/TL : 13.37/13.98       EURO/TL : 15.27/15.42

USD interest rate: 0.50/1.00        EURO interest rate: 1.25/2.50

TL interest rate:  21.00/27.00