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Consider a U.S. importer desiring to purchase merchandise from a Dutch exporter invoiced in euros, at a cost of 512,100. The U.S. importer will contact
Consider a U.S. importer desiring to purchase merchandise from a Dutch exporter invoiced in euros, at a cost of 512,100. The U.S. importer will contact his U.S. bank (where of course he has an account denominated in U.S. dollars) and inquire about the exchange rate, which the bank quotes as 1.0242/$1.00. The importer accepts this price, so his bank will __________ the importer's account in the amount of __________.
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