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On April 17th, 2017, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market at the exchange rate of 114.22 yen
On April 17th, 2017, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market at the exchange rate of 114.22 yen per U.S. dollars and purchased a one-week forward contract to convert yen into dollars where the exchange rate of U.S. dollars for Japanese yen is $0.008787. What is your dollar and percentage return on this transaction? If the spot exchange rate of U.S. dollars for Japanese yen in one-month time was $0.005787. Do you think the forward contract was beneficial
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