U.S retailer imports readymade garments worth 120 million rupees from india when the exchange rate...
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U.S retailer imports readymade garments worth 120 million rupees from india when the exchange rate is 60 rupees per USD. The import invoice is payable in 3 months. In three months, the exchange rate changes to 55 rupees per dollar. What is the approximate percentage exchange loss or gain from this transaction to the U.S. retailer? A) 8% loss B) 9% loss C) 9% gain D) 8% gain
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