Here are today's rates:

Current spot exchange rate: 3.2

0 Polish zloty per US dollar

6month forward exchange rate: 3

.24 Polish zloty per US dollar

You expect the spot exchange rate in 6 months to be 3.26 Polish

zloty per US dollar.

Evaluate the validity of the following statement: "Given the in

formation above, you wi

ll profit from a forward

exchange speculative position ba

sed on your expected future spo

t exchange rate, if the actual future spot

exchange rate in 6 months is 3.25 zloty per US dollar." (10 poi

nts)