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An Australian exporter has supplied goods to India and will receive 3 million Indian rupees (INR) in one year. The exporter expects that the INR

An Australian exporter has supplied goods to India and will receive 3 million Indian rupees (INR) in one year. The exporter expects that the INR will be selling at 13.51% premium against the Australian dollar (A$) in the one-year forward contract. The spot exchange rate is A$0.2968 and the exporter wants to sell INR3 million in the one-year forward contract. How much Australian dollar the exporter will make a profit after one year?

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