Here are direct spot and forward markets quotes for CAD over three points in time: now (1/1/XX), one month later (2/1/XX), three months later (4/1/XX). and six months later (7/1/XX). CAD Spot 1 Month Forward 3 Month Forward 6 Month Forward 1/1/XX 1.0165 1.0317 1.0472 1.0629 2/1/XX 1.0833 1.0995 1.116 1.1327 4/1/XX 1.0263 1.0417 1.0573 1.0732 7/1/XX 1.0895 1.1058 1.1224 1.1392 when the contract On 1/1/XX, Dell sold a 6 month forward contract of CAD 5,000,000 to Chase. As a result, Dell will incur a expires: Loss of $133,000 Profit of $133,000 Loss of $381.500 Profit of $381.500