Two parties agree to a currency forward contract for 1 million at $1.15 per euro....
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Finance
Two parties agree to a currency forward contract for 1 million at $1.15 per euro. At contract expiration, the euros trade at $1.17 per euro. In a deliverable forward contract, the:
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| long pays the short $0.02 million. |
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| long pays the short $1.17 million and receives 1 million from the short. |
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| long pays the short $1.15 million and receives 1 million from the short. |
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| short pays the long $0.02 million. |
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| short pays the long $1.15 million and receives 1 million from the long. |
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