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Hi!
Can anyone tell me where the figure of 1.6244 used in the calculation to arrive at the interest of 2.13% come from?
Many thanks!
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1.6244 was the offer rate at closing, i.e. the spot rate. It was given at the very beginning of the question.
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1.6242 was the mid-rate, i.e. the average of bid rate (1.6239) and offer rate (1.6244). The mid-rate is only useful in estimate or planning purpose. Since Asteroid’s subsidiary in Switzerland was short in Euro, we should use the offer rate.
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