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You have three months future contract of 100,000 TL, the forward rate is $0.148/P TL , and you believe that the value of the Turkish

You have three months future contract of 100,000 TL, the forward rate is $0.148/PTL, and you believe that the value of the Turkish Lira (TL) will fall. Assume that at the maturity date (three months later) the spot rate is $0.140/PTL. Should you take a short or long position, and how much will be the value?


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