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A trader with a U.S. bank took a short position of 2,000,000 when the $/ exchange rate was 1.51. Subsequently, the exchange rate has changed

A trader with a U.S. bank took a short position of 2,000,000 when the $/ exchange rate was 1.51. Subsequently, the exchange rate has changed to 1.46. By how much has the banks liability changed because of the change in the exchange rate?

180000 160000 100000 170000

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