Deliveries of currencies taking place

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You are a foreign exchange trader at Wells Fargo. One of your customers would like a yen (JPY) quote v USD. Current market rates are as follows:

Spot JPY 103.77-81 = U.S $1

30 day points 16-14

You give the above rates to your customer. They decide to buy 2 mio USD (2,000,000 US$) from Wells with all deliveries of currencies taking place 30 days from now. How many JPY will your customer pay to Wells in 30 days time?

Give your answer to the nearest JPY.

Reference no: EM133275287

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