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5. You established a short position in a 6-month non-deliverable forward (NDF contract in Indian rupees (INR). The 6-month INR forward rate is $0.014. The

5. You established a short position in a 6-month non-deliverable forward (NDF contract in Indian rupees (INR). The 6-month INR forward rate is $0.014. The spot rate 6 months later is $0.017 per INR Calculate the profit or loss from this NDF position Will you make or receive a payment from the counterparty? Explain

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