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What is the amount of money in dollars

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Problem - Assume you are in India and borrowed 750,000 Rs. from one of your friends who lines in Australia. Suppose the spot exchange rate at the time borrowing was Rs52/$ and you promised to repay the loan after six months with a forward currency rate of Rs56/$ without any interest. What is the amount of money in dollars that your friend needs pay to an authorised currency exchanger in Australia with a 15$ administration fee to transfer the loan?

Reference no: EM133011773

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