An MNC's European subsidiary is valued at Euro 3 million. What is the MNC maximum weekly loss due to exchange rate movements using the value at risk method with a 95% confidence, if the expected weekly appreciation/depreciation of the Euro is 0% and the weekly standard deviation of exchange rate changes is 8%?

Provide your answer rounded to the nearest integer.

HINT: % value at risk: E(exchange rate change) - 1.65 * standard deviation

to get the dollar amount, multiple the percentage value t risk with the notional amount