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Malaysias Top Glove exported its rubber gloves to United Kingdom and issued an invoice for 1,230,000. Payment will be due in 90 days. The spot

Malaysias Top Glove exported its rubber gloves to United Kingdom and issued an invoice for 1,230,000. Payment will be due in 90 days. The spot rate is MYR5.55 per 1. On Day 90, the spot rate has changed to MYR5.50. Determine how much would Top Glove receive? Is there any exchange loss/gain? If so, how much is the loss/gain? State the reason.

Course = Financial market

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