Q. 9 OF PM OCT 2018 FOREX CA FINAL SFM

QUESTION
On April 3, 2016, a Bank quotes the following:
Spot exchange Rate (US $ 1) INR 66.2525 INR 67.5945
2 months’ swap points 70 90
3 months’ swap points 160 186
In a spot transaction, delivery is made after two days.
Assume spot date as April 5, 2016.
Assume 1 swap point = 0.0001,
You are required to:
(a) Ascertain swap points for 2 months and 15 days. (For June 20, 2016),
(b) Determine foreign exchange rate for June 20, 2016, and
(c) Compute the annual rate of premium/discount of US$ on INR, on an average rate.

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