On August 17 a speculator purchased 10 futures contracts of Indian Rupees at 1.4957¢, that is...
On August 17 a speculator purchased 10 futures contracts of Indian Rupees at 1.4957¢, that is USD/INR 0.014957 for delivery on the third to last Indian business day in December. On October 13 the speculator sold the contracts for 1.4862¢. The contract unit is INR 5,000,000. What was is profit/loss?
Homework Answers
Profit to the speculator=(Buying price in cents-Expiry price in cents)*1/100*contract size*number of contracts=(1.4862-1.4957)*1/100*5000000*10=-4750
Hence, Loss of $4750
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On August 17 a speculator purchased 10 futures contracts of
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