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Question - Theresa Limited, a Thailand-based MNCs has purchased a non-deliverable forward contract of amount US$ 10, 000 from HSBC Bank to settle one of its payables with P&G Limited in the USA. The forward rate is Thai Baht 14.50 per US$. The term of maturity is 6 months. At maturity, the sport rate stands at $1 = 17.00 Baht. What is the amount of delivery either in the form of receivables or payables that Theresa Limited or HSBC Bank should have to exchange to settle the non-deliverable forward contract?
a. HSBC Bank must pay 25,000 Bhat to Theresa Limited.
b. HSBC Bank must pay 145,000 Bhat to Theresa Limited.
c. HSBC Bank will receive 25,000 Bhat from Theresa Limited.
d. HSBC Bank must pay 170,000 Bhat to Theresa Limited.
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