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How many dollars does Uni need to pay

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Question - Uni, Inc. expects to pay 9,731,437 Japanese yen 57 days from now. The current spot rate of the yen is $0.0087, while the forward rate of a 57-day Japanese futures contract is $0.009. Would Uni, Inc buy the Japanese futures if it expects the spot rate in 57 days to be $0.0082? How many dollars does Uni need to pay the 9,731,437 Japanese yen in 57 days?

Reference no: EM132974238

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