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Covered Interest Currency Forward Scenario — result sheet
Estimate a theoretical currency-forward rate from spot rate, two interest rates, and time to delivery.
Inputs used
Results
Visual chart
Breakdown
Calculation steps
Returned data table
Formula and methodology
Formula: Forward quote = spot × (1+quote rate)^time/(1+base rate)^time.
The covered-interest scenario links the forward quote to the relative growth of the two currencies under the entered simple annual rates.
This result follows the calculator's declared inputs, precision, validation boundaries, and model limits.
Input contract
- Spot quote: quote currency per base currency — minimum 1.0E-6; maximum 1000000000
- Quote-currency annual rate — %; minimum -99.999; maximum 1000
- Base-currency annual rate — %; minimum -99.999; maximum 1000
- Time to delivery — years; minimum 1.0E-6; maximum 100
Worked example
| Input | Value |
|---|---|
| Spot quote: quote currency per base currency | 1.1 |
| Quote-currency annual rate | 5 |
| Base-currency annual rate | 3 |
| Time to delivery | 1 |
Theoretical forward quote ≈ 1.1214 quote units per base unit.
Assumptions and limits
- The quote convention is quote currency per one base currency and all rates use the same compounding convention.
- Interest rates and spot rate are visitor-supplied; live FX prices are not fetched.
- Bid-ask spreads, basis, capital controls, credit risk, and settlement conventions are excluded.
Calculator note
Source and methodology
Use the official WorldCalculate methodology policy for the source, formula, precision, and boundary standards behind this calculator.
Planning estimate, not financial, medical, legal, or professional advice. © WorldCalculate — reuse with attribution. Built and curated by Hassan ALRowaie.
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