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Calculate the profit or loss you make by selling aud

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Reference no: EM132935102

Problem 1: Suppose at 9.30am you call a foreign exchange dealer and ask for a quote on FJD/AUD exchange rate. The dealer responds by quoting 1.5500-1.5900. You decide to buy AUD1,000 at the quoted rate. At 3.30pm the same day, the dealer quotes 1.5545-1.5585. Calculate the profit or loss you make by selling AUD at 3.30pm? What will be your amount of profit or loss?

Reference no: EM132935102

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