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An Importer Enters into a 60 Day Forward Exchange Rate

question 110

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An importer enters into a 60 day forward exchange rate for converting dollars into yuan.The spot exchange rate is 5.28 yuan for 1 dollar.The forward exchange rate is 5.27 yuan for 1 dollar.What is the difference in the amount the importer receives using the forward exchange rate and the spot exchange rate.


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