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A trader enters into a short forward contract on 200 million yen. The forward exchange rate is $0.0096 per yen. How much does the trader

A trader enters into a short forward contract on 200 million yen. The forward exchange rate is $0.0096 per yen.

How much does the trader gain or lose if the exchange rate at the end of the contract is (a) $0.0084 per yen;

(b) $0.0101 per yen?

a. If the exchange rate at the end of the contract is 0.0084, then gain/loss for the short position is $ .

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