THE VALUE OF A FORWARD CONTRACT IN FOREIGN CURRENCIES
在若干假设下构建了外币远期合约的估值模型，得出合约初始价值为零，后续价值为签约时远期汇率与当前远期汇率之差的现值。
Under some assumptions a valuation model for a forward contract in foreign currencies is developed. The model produces the value of the contract which is consistent with the value of other types of forward contract; the initial value is zero, and subsequent values are the present values of the differences between the forward rate when the contract is written and current forward rates.