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An importer will be required to purchase USD in approximately six months to pay for a consignment of goods. The company is concerned that the AUD may depreciate before the due date and therefore decides to enter into a forward exchange contract to protect its position. The company receives the following quote: ‘the aussie is fifty-eight forty-five to fifty three, sixty-two to sixty six’ Calculate the forward exchange rate .

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92796700

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