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A U.S. based speculator entered into a one-year forward contract to buy MXN 12mn. At the time the speculator entered the contract, the one-year forward

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A U.S. based speculator entered into a one-year forward contract to buy MXN 12mn. At the time the speculator entered the contract, the one-year forward rate stood at MXN 19.3,515/USD. When the contract expired a year later, the spot rate was MXN 19.5,618/USD. Calculate the profit or loss (in USD) for the speculator

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