Suppose that you are a currency speculator, based in the U.S., attempting to capitalize on a possible depreciation of the January 1st, the spot rate for the Canadian dollar is $0.69. This is also the price at which futures contracts for Canadian have C$460,000.00 to use on these positions. On January 1st, you sell a futures contract specifying C$460,000.00 at $0.69 per Canadian dollar with a March 10 th sett On the settlement date, you will (U.S. dollars) in exchange for the c$460,000.00