- UID
- 223233
- 帖子
- 477
- 主题
- 143
- 注册时间
- 2011-7-11
- 最后登录
- 2013-9-26
|
43#
发表于 2012-3-31 16:54
| 只看该作者
Macklin Metals has received 80 million pounds sterling. The company plans to spend $120 million on a project in the United States in 90 days. Macklin inters into a cash settlement currency forward to exchange the pounds for U.S. dollars at a rate of $1.50 per pound in 90 days. If the exchange rate is $1.61 per pound at the settlement date, the cash settlement Macklin will pay or receive is closest to:
Under the contract, Macklin receives:
80 million pounds × $1.50 = $120.0 million
At market rates, Macklin would receive:
80 million pounds × $1.61 = $128.8 million
Macklin must pay the difference, $8.8 million ($128.8 million − $120 million), as the cash settlement to the counterparty. |
|