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Q 68 polytot bpp kit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Q 68 polytot bpp kit

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by John Moffat.
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    Posts
  • June 6, 2019 at 7:25 pm #519429
    aicca
    Member
    • Topics: 27
    • Replies: 10
    • ☆

    In calculating future basis
    Shouldn’t it be
    1.5275 future price
    0.6647 spot
    Becuase spot price is dollar per pound
    And futures is pound per dollar quoted ?

    June 7, 2019 at 7:29 am #519495
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54764
    • ☆☆☆☆☆

    I see your point – this question was presented rather strangely (the examiner has changed twice since this question was asked in the exam, so don’t worry these days).

    However, despite the switch round of the $/GBP, you would never have the exchange rates so very different and so what the answer has done has to be correct.

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