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The Chief Financial Officer of Adetikope Platform (Mr. Paul McCulicks) is a trader and makes a market in a currency and attempts to generate speculative

The Chief Financial Officer of Adetikope Platform (Mr. Paul McCulicks) is a trader and makes a market in a currency and attempts to generate speculative profit from dealing against other currencies. He is now considering taking a long position in a six-month forward contract on the euro. After debating this with himself, he finally decided to take a long position in a six-month forward contract on the euro. He checked the exchange rates at different banks and collected the following information: Forward rate is $1.75 = 1.00; the contract size is 62,500. At the maturity of the contract the spot exchange rate is $1.65 = 1.00. Multiple Choice Mr. McCulicks has lost $6,250. Mr. McCulicks has lost $625. Mr

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