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A fund manager expects a surge in the Turkish stock market in a month and wishes to invest $ 1 0 million. However, because he

A fund manager expects a surge in the Turkish stock market in a month and wishes to invest $10 million. However, because he is uncertain about the direction of the USD/TRY exchange rate, he does not want to accept exchange rate risk. He plans to employ forward swap to eliminate the exchange risk. On the other hand, a Turkish bank anticipates a USD/TRY depreciation at the end of the month and has agreed to a swap contract with the fund.
\table[[,Spot Exchange Rate Today,Swap Points],[USD/TRY,28.10-28.50, days
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