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On March 13, 2020, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to

On March 13, 2020, you convert 650,000 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 U.S. dollars at the end of six months? (Round your answer to 2 decimal places. (e.g., 32.16))

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Exchange Rates: New York Closing Snapshot Friday, March 13, 2020 US.-dollar foreign-exchange rates in late New York trading Country/Currency IN US$ PER US$ Fri Thurs Fri Thurs 0.0159 0.2086 0.7181 0.7209 0.7210 0.7211 0.001176 0.000248 1.0000 0.0456 0.02314 62.90 62.70 4.8595 4.7941 1.3807 1.3926 1.3990 1.3872 1.3988 1.3870 1.3984 1.3868 839.00 850.60 4023.01 4028.00 1.0000 1.0000 21.9168 21.9202 43.41 43.21 Americas Argentina peso 0.0159 Brazil real 0.2058 Canada dollar 0.7243 1-month forward 0.7148 3-month forward 0.7149 6-month forward 0.7151 Chile peso 0.001192 Colombia Peso 0.000249 Ecuador US dollar 1.0000 Mexico peso 0.0456 Uruguay peso 0.02304 Asia-Pacific Australian dollar 0.6193 China yuan 0.1427 Hong Kong dollar 0.1287 0.01354 Indonesia rupiah 0.0000677 Japan yen 0.00926 1-month forward 0.00936 3-month forward 0.00938 6-month forward 0.00941 Kazakhstan tenge 0.00246 Macau Pataca 0.1250438 Malaysia ringgit 0.2337 New Zealand dollar 0.6068 Pakistan rupee 0.00636 Philippines peso 0.0196 Singapore dollar 0.707 South Korea won 0.0008252 Sri Lanka rupee 0.005423 Taiwan dollar 0.03317 Country/Currency IN US$ PER US$ Fri Thurs Fri Thurs Thailand baht 0.03138 0.03152 31.87 31.73 Vietnam dong 0.00004308 0.00004311 23211 23197 Europe Bulgaria lev 0.56567 0.57251 1.7680 1.7470 Croatia kuna 0.1466 0.1471 6.8234 6.799 Czech Rep. koruna 0.0422 0.04267 23.697 23.438 Denmark krone 0.1486 0.1497 6.7290 6.6812 Euro area euro 1.1104 1.1185 0.9006 0.8941 1-month forward 1.1090 1.1102 0.9017 0.9008 3-month forward 1.1120 1.1130 0.8993 0.8985 6-month forward 1.1150 1.1163 0.8969 0.8958 Hungary forint 0.00327675 0.00330557 305.18 302.52 Iceland Krona 0.007404 0.007492 135.07 133.48 Norway Krone 0.0994 0.0984 10.0583 10.1657 Poland zloty 0.2538 0.2555 3.9403 3.9142 Romania leu 0.2301 0.2318 4.3456 4.3140 Russia ruble 0.01377 0.01335 72.623 74.905 Sweden krona 0.103 0.1026 9.7050 9.7493 Switzerland franc 1.0521 1.0594 0.9505 0.9439 1-month forward 1.0502 1.0507 0.9522 0.9518 3-month forward 1.0536 1.0541 0.9491 0.9487 6-month forward 1.0576 1.0581 0.9455 0.9451 Turkey lira 0.1579 0.1583 6.3337 6.3168 Ukraine hryvnia 0.0383 0.0387 26.1356 25.8563 U.K. pound 1.2284 1.2569 0.8141 0.7956 1-month forward 1.2415 1.2555 0.8055 0.7965 3-month forward 1.2425 1.2564 0.8048 0.7960 6-month forward 1.2428 1.2566 0.8046 0.7958 Middle East/Africa Bahrain dinar 2.6489 2.6524 0.3775 0.3770 Egypt pound 0.0637 0.0637 15.7007 15.7011 Israel shekel 0.2728 0.2711 3.6662 3.6887 Kuwait dinar 3.2457 3.2608 0.3081 0.3067 Qatar rial 0.2754 0.2762 3.6312 3.6202 Saudia Arabia riyal 0.2664 0.2664 3.7533 3.7538 South Africa rand 0.0614 0.0605 16.2771 16.5405 India rupee 0.6237 1.6147 1.6033 0.1423 7.0082 7.0296 0.1286 7.7695 7.7773 0.01341 73.84 74.576 0.0000689 14770 14522 0.00956 107.98 104.63 0.00948 106.88 105.49 0.00950 106.58 105.22 0.00953 106.24 104.91 0.0025 406.55 400.63 0.1249375 7.9970 8.0040 0.2341 4.2785 4.2725 0.6087 1.6480 1.6428 0.00628 157.15 159.25 0.0195 51.07 51.32 0.7091 1.4145 1.4102 0.0008256 1211.78 1211.21 0.0054684 184.4 182.87 0.03313 30.14 30.18

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