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Explain to the evp the purpose and nature of entering

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You are the newly hired Controller of Astros Ltd. On the first day, the Executive Vice-President (EVP) of Finance of this family-owned business, asked you about a US$750,000 payment due in the next sixty (60) days. He claimed he has heard about the idea of a foreign currency forward contract and would like you to explain to him this type of contract.

Question 1: Prepare a short memo, succinctly explain to the EVP the purpose and nature of entering into a forward contract of foreign exchange.

Reference no: EM132937084

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