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A U.S retailer imports readymade garments worth 120 million rupees from india when the exchange rate is 60 rupees per USD. The import invoice is

A U.S retailer imports readymade garments worth 120 million rupees from india when the exchange rate is 60 rupees per USD. The import invoice is payable in 3 months. In three months, the exchange rate changes to 55 rupees per dollar. What is the approximate percentage exchange loss or gain from this transaction to the U.S. retailer?


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