Suppose that you are a currency speculator, based in the U$.$S$.,$ attempting to capitalize on a possible depreciation of the Canadian dollar $($C$$).$ On

January $1$st$,$ the spot rate for the Canadian dollar is $$0\mathrm{.}62.$ This is also the price at which futures contracts for Canadian dollars are being sold

have $C$$$320,000\mathrm{.}00$ to use on these positions.

On January $1$st$,$ you sell a futures contract specifying $C$$$320,000\mathrm{.}00$ at $$0\mathrm{.}62$ per Canadian dollar with a March $10$ th settlement date

On the settlement date, you will

$($U$.$S$.$ dollars$)$ in exchange for the $C$$$320,000\mathrm{.}00.$