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Who benefited from the currency risk

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Reference no: EM132984939

Question - An American supplier (X) exports a machine to a French customer (Y) for an amount of $ 480,000.

See below for exchange rate fluctuations:

a) 07/01/2019: Signature of the contract: $ 1 = 0.85 Euro;

b) 07/15/2019: Billing: the dollar climbed 3% against the Euro;

c) 07/29/2019: Payment: the Euro has increased, so $ 1 = 0.8338 Euro;

Who benefited from the currency risk? Why?

Reference no: EM132984939

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