This is my first post here, if I am in the wrong area would you kindly point me in the right direction?


The assignment I am working on is below (just fyi). The questions I have are...

1. Where can I find forward exchange rates online? (really need help on this)
2. When looking at exchange rates I want my currency (USD) to be worth more than the foreign currency, so 1USD=0.00919JPY is better than 1USD=5JPY...is this right or do I have it backwards?
3. I need to look at the forward exchange rate for JPY, if the spot rate is 1USD=0.00919 and the 1 month forward rate is 1USD=1JPY, the spot rate would be better, yes?
4. If the exchange rate is 1USD=0.00919, in order to have 100,000 yen I will have to spend 983.77USD. Is this also correct?


Assignment-
You are assigned the duty of ensuring the availability of 100,000 yen for the payment that is scheduled for next month. Considering that your company possesses only U.S. dollars, identify the spot and forward exchange rates. What are the factors that affect your decision of utilizing spot versus forward exchange rates? Which one would you choose?
How many dollars do you have to spend to acquire the amount of yen required?