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Q1. DBS Bank wants to buy 30 Million USD against INR JP Morgan quotes USD/INR as 85.65/85.75 DBS Bank is Bearish on USD/INR 1 month

Q1. DBS Bank wants to buy 30 Million USD against INR

JP Morgan quotes USD/INR as 85.65/85.75

DBS Bank is Bearish on USD/INR

1 month from today, USD/INR goes down. DBS Bank decided to sell the USD bought.

1 month from today, JP Morgan quotes USD/INR as 85.55/85.60

Determine P/L.

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