Advanced Accounting
12th Edition
ISBN: 9781305084858
Author: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Publisher: Cengage Learning
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Chapter 10, Problem 2.3E
To determine
Forward contract:
A forward contract is an agreement where the deal has been committed to exchange the two currencies at a specified rate at a specified point of time. The rate of exchange of two currencies has been determined in advance and it may be different from the spot rate existing at that specified point of time.
:
Comment on the interest rates prevailing in both countries.
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