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Suppose you need to pay V = 50,000 GBP in a year from now Spot rate of GBP is 13. You do not have enough

Suppose you need to pay V = 50,000 GBP in a year from now Spot rate of GBP is 13. You do not have enough USD to purchase 50.000 GBP right now. Assume the forward premium = 0.03 What is the benefit of hedging with forward contract if the GBP spot rate in a year from now is 1.22

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