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The spot is $ 1 . 4 5 / while the 1 - month forward rate is $ 1 , 4 5 . You agree

The spot is $

1.45 /

while the

1 -

month forward rate is $

1, 45 .

You agree to buy

5

million at the

1 -

month rate. Next month the spot rate is $

\frac{1.64}{},

what are your profits

/

losses

?

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