Examlex
On June 1, CamCo received a signed agreement to sell inventory for ¥500,000.The sale would take place in 90 days.CamCo immediately signed a 90-day forward contract to sell the yen as soon as they are received.The spot rate on June 1 was ¥1 =$.004167, and the 90-day forward rate was ¥1 = $.00427.At what amount would CamCo record the Forward Contract on June 1?
Acceptable Grade
A term that might refer to a minimum satisfactory academic or performance level, but could require more context to define precisely.
Settlement Price
The official price at the close of a trading session on a futures exchange, used for determining margin requirements and the next day's price limits.
Future Contract
A legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specific time in the future, reiterating the concept of futures contracts with a focus on its nature as a legal agreement.
Spot Price
The current market price at which a particular asset can be bought or sold for immediate delivery.
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