How much OMR will the importer need to get KWD55000 after 3 months?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
An importer in Oman wants to exchange OMR to KWD to make payment to the exporter in Kuwait after 3 months. He goes to a forex dealer in Oman who provides the following quotes for OMR/KWD.
Spot rate =1.25695-6972
3 months rate = 1.32692-3642
How much OMR will the importer need to get KWD55000 after 3 months?
a.
123274.8
b.
All the options are wrong
c.
122125.5
d.
73503.1
e.
72980.6
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