Use the provided table for this problem. You expect to receive 1,500 UK pound in three months, so you want to use a forward contract to convert it to U.S. dollars. How much U.S. dollars will you get?
| | A. | 888.6 |
| | B. | 2533.35 |
| | C. | 2533.95 |
| | D. | 888 |
| | E. | 2532.15 |
2.808 Currencies U.S.-dollar foreign-exchange rates in late New York trading USS VS. USS VS. -Thurs YTD chg Thurs YTD cho Country/currency in USS per USS (%) Country/currency in USS per USS (%) Americas Europe Argentina peso .1250 8.0001 22.7 Czech Rep. koruna .05050 19.800 -0.4 Brazil real .4476 2.2339 -5.4 Denmark krone .1858 5.3816 0.8 Canada dollar .9126 1.0958 3.2 Euro area euro 1.3869 .7210 -0.9 Chile peso .001773 564.00 7.3 Hungary forint .004524 221.06 2.2 Colombia peso .0005169 1934.50 0.2 Norway Krone .1683 5.9433 -2.1 Ecuador US dollor 1 1 unch Poland zloty .3306 3.0246 0.1 Mexico Peso .0767 13.0434 unch Russia ruble .02807 35.620 8.2 Peru new sol .3561 0.2 Sweden krona 1537 6.5068 1.1 Uruguay peso .04379 22.8355 7.8 Switzerland franc 1.1373 .8793 -1.5 Venezuela b. fuerte .157480 6.3500 unch 1-mos forward 1.1376 .8791 -1.6 3-mos forward 1.1381 .8786 -1.6 Asia-Pacific 6-mos forward 1.1391 .8779 -1.6 Australian dollar .9274 1.0783 -3.9 Turkey lira .4749 2.1057 -2.0 1-mos forward .9255 1.0805 -4.0 UK pound 1.6893 .5920 -2.0 3-mos forward .9216 1.0851 -4.0 1-mos forward 1.6889 .5921 -2.0 6-mos forward .9157 1.0920 -3.9 3-mos forward 1.6881 .5924 -2.0 China yuan .1598 6.2590 3.4 6-mos forward 1.6867 .5929 -2.0 Hong Kong dollar .1290 7.7528 unch India rupee .01663 60.150 -2.8 Middle East/Africa Indonesia rupiah .0000865 11555 -5.0 Bahrain dinar 2.6527 .3770 unch Japan yen .009773 102.32 -2.8 Egypt pound .1427 7.0081 0.8 1-mos forward .009775 102.31 -2.9 Israel Shekel .2896 3.4528 -0.5 3-mos forward .009778 102.27 -2.9 Jordan dinar 1.4123 .7081 0.1 6-mos forward .009784 102.21 -2.9 Kuwait dinar 3.5606 2809 0.6 Malaysia ringgit 3062 3.2659 -0.5 Lebanon pound .0006596 1516.10 0.7 New Zealand dollar .8633 1.1584 -4.8 Saudi Arabia riyal .2666 3.7507 unch Pakistan rupee .01014 98.645 -6.4 South Africa rand .0953 10.4879 unch Philippines peso .0224 44.610 0.5 UAE dirham .2723 3.6731 unch Singapore dollar .7982 1.2528 -0.8 South Korea won .0009682 1032.80 -2.2 Close Net Chg %ChgYTD%Chg Taiwan dollar .03305 30.256 1.1 Thailand baht .03090 32.367 -1.1 WSJ Dollar Index 72.85 -0.01 -0.01 -1.31 Vietnam dong .00004742 21090 -0.2 Sources: ICAP plc., WSJ Market Data Group
