Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
On July 15, 2016, you convert 630,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to
On July 15, 2016, you convert 630,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to convert yen into dollars. How much will you receive in US dollars at the end of six months? Use the data in Table 9-1 for this problem. (Round your answer to 2 decimal places. (e.g., 32.16)) Amount that you will receive in US dollars at the end of tlx months Chile peso Frruay, July 5, 2010 U.S.-dollar foreign-exchange rates in late New York trading IN US$ PER US$ Country/currency Fri Thurs Fri Thurs Americas Argentina peso 0.0669 0.0679 14.9390 14.7260 Brazil real 0.3050 0.3074 3.2784 3.2533 Canada dollar 0.7709 0.7758 1.2972 1.2891 1-month forward 0.7709 0.7758 1.2971 1.2890 3-months forward 0.7710 0.7759 1.2970 1.2889 6-months forward 0.7711 0.7760 1.2968 1.2887 0.001526 0.001538 655.10 650.40 Colombia peso 0.0003422 0.0003429 2922.25 2916.55 Ecuador US dollar 1 1 1 1 Mexico peso 0.0537 0.0545 18.6066 18.3528 Peru new sol 0.3050 0.3049 3.2785 3.2795 Uruguay peso 0.03294 0.03299 30.3600 30.3100 Venezuela bolivar 0.1000996 0.10014972 9.9901 9.9851 Asia-Pacific Australian dollar 0.7575 0.7632 1.3201 1.3103 0.1494 0.1497 6.6924 6.6818 Hong Kong dollar 0.1290 0.1290 7.7546 7.7543 0.01489 0.01496 67.14050 66.84320 Indonesia rupiah 0.0000763 0.0000767 13110 13037 Japan yen 0.00953 0.00949 104.91 105-35 1-month forward 0.0095320 0.0094918 104.90991 105-35397 3-months forward 0.0095320 0.00949235 104.90980 105-34796 6-months forward 0.0095320 0.00949237 104.90961 105-34777 China yuan India rupee
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started