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Step wise answer pls An authorized dealer in Chennai bought Japanese yen 50 million from an exporter at Japanese Yen 100 = 38.21.The dealer had

Step wise answer pls

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An authorized dealer in Chennai bought Japanese yen 50 million from an exporter at Japanese Yen 100 = 38.21.The dealer had sold Japanese yen 20 million at 38.25 locally and the remaining amount in Singapore against US dollars to maintain a square position when the exchange rates for dollars and yen in Chennai and Singapore were under: Chennai Spot Spot 45.02/04 117.76/80 Singapore JPY/$ You are required to calculate the amount of profit or loss in rupees to the dealer in the transaction

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