Home Depot has Yuan 10m payable in 3 months which it would like to hedge...
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Accounting
Home Depot has Yuan 10m payable in 3 months which it would like to hedge by purchasing Yuan forward. The 3-month forward rate is $ 0.165 / Yuan. What is the profit on the hedge if the spot rate 3 months later is $ 0.168 /Yuan? Provide your answer rounded to the nearest integer.
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