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The spot rate is $ 1 . 4 8 / today while the three - month forward rate is $ 1 . 5 0 /

The spot rate is $1.48/ today while the three-month forward rate is $1.50/. You think the exchange rate will be $1.59/ in three months. Given this information, you decide to invest 180,000 in the forward market in the hopes of making a profit. The exchange rate three months later is at $1.52/. What is your dollar profit or loss from your position?

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