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Urgent please An Indian software company had approached State Bank of India (SBI) for forward sale of 100,000 delivery on May 31, 2001. The bank

Urgent please

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An Indian software company had approached State Bank of India (SBI) for forward sale of 100,000 delivery on May 31, 2001. The bank had quoted a rate of Rs.65.60/ for the purchase of pound sterling from the customer. But on May 31st, the customer informed the bank that it was not able to deliver the pound sterling as anticipated receivable from London has not materialized and requested the bank to extend the contract for delivery July 31st. The following are the market quotes available on May 31, 2001: Spot Rs/ 66.60/65 1m forward 20/25 2m forward 41/46 3m forward 62/68 You are required to find out the extension charges payable by the software company

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