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A trading desk has a daily standard deviation of return of 1.5% and a current portfolio market value of 6.5 million. What is the one-day

A trading desk has a daily standard deviation of return of 1.5% and a current portfolio market value of €6.5 million. What is the one-day Value at Risk of the trading desk’s portfolio at 95% confidence? Recall that the 95% cumulative probability value for a standard normal random variable is 1.67.

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