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A Chinese company purchases 10 million Euros and lends to a German company ,the loan rate is 6 monthly. The loan term is 1month.

A Chinese company purchases 10 million Euros and lends to a German company ,the loan rate is 6 ‰ monthly. The loan term is 1month. Suppose currently the foreign exchange quotation is 7.8818/7.8835 ;forward exchange quotation of 1month is 26/48;forward exchange quotation of two months is 29/52.


Suppose the company gets paid in euro and exchange RMB back from bank at this forward rate, please calculate the net profit of the Chinese company in RMB?

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