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A US-based exporter anticipated receiving 100 million British Pound (GBP) in six months, and took a short forward position, locking-in an exchange rate of $1.31/GBP.
A US-based exporter anticipated receiving 100 million British Pound (GBP) in six months, and took a short forward position, locking-in an exchange rate of $1.31/GBP. If six months later at maturity, the exporter calculates that she has made a profit of $3 million from the currency forward contract, the spot exchange rate at maturity must be __________ USD/ GBP
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