Question 2

You have one million USD to trade in the foreign exchange market. Following is the transactions that you made throughout the day;

Bought EUR 150,000 at a rate of USD/ EUR spot 0.83/0.84

Bought GBP 100,000 at a rate of USD/ GBP spot 0.72/0.73

Bought 10,000,000 Argentine Pesos against EUR at a rate of EUR/PES 108.1/108.2

Bought EGP 2,000,000 at a rate of USD/ EGP 15.64/15.68

Bought 100,000 CHF against GBP at a rate of CHF/GBP 0.80/0.82

Bought 200,000 AED against EGP at a rate of AED/EGP 4.26/4.28

At the end of the day, you converted all currencies you have on hand into USD. The quoted exchange rates at end of day were:

EUR/USD: 1.25/1.26 USD/GBP: 0.69/0.70 USD/EGP: 15.69/15.72

GBP/AED: 5.29/5.30 CHF/EUR: 0.86/0.87 USD/PES: 89.3/89.4.

Required:

Calculate your total end of day profit / loss in US Dollars. (Show all steps & calculations)