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Please show all of your work, thank you Similar to Problem 3 (at the end of chapter) A foreign exchange trader with a U.S. bank
Please show all of your work, thank you
Similar to Problem 3 (at the end of chapter) A foreign exchange trader with a U.S. bank took a short a position of 4,016,143 when the $/ exchange rate was 1.57. Subsequently, the exchange rate has changed to 1.77. Compute the profit or loss of the short position. (Note, if it is a profit of $2000, just enter "2000". If it is a loss of by $2000, just enter"-2000". In other words, a positive number means "profit", a negative number indicates a loss. There is no need to use "$" before your answer. Additionally, please round your number to the nearest integer, no decimals needed)Step by Step Solution
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