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You expect to receive in a month the proceeds of a shipment of machinery parts to the UK. Determine which exchange rate would be applicable

You expect to receive in a month the proceeds of a shipment of machinery parts to the UK. Determine which exchange rate would be applicable if you were to cover this transaction in British pounds forward.

Currency Spot rate 1 month

USD/ZAR 13,1658/13,1783 695/785

GBP/USD 1,2714/1,2722 35/20

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