Size of one gbp futures contract

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Last month, you bought one March GBP futures contract at the closing rate of $1.2400. Assume that the maturity date of this contract is today, March x, 2020. If the spot rate today (at expiration) is $1.2250, how much money did you gain or lose on your futures contract. Assume that the size of one GBP futures contract is £62,500. All rates above are expressed as GBP/USD (GBP base currency).

Reference no: EM132473923

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