1. It is March 31, 2023. A local firm knows it will buy 150,000 ounces of...

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1. It is March 31, 2023. A local firm knows it will buy 150,000 ounces of silver for production use in three months. The payment will have to be made in U.S. dollars. Describe the positions the firm needs to take simultaneously eliminate its silver price and currency risk exposures using the silver and U.S. dollar futures available. The settlement dates and prices of available contracts given in the left- and right-hand-side tables. Contract Code F XAGUSD0423 F XAGUSD0623 F XAGUSD0823 Standard Size Settlement 28-Apr-23 30-Jun-23 31-Aug-23 10 Price 23.30 23.60 24.00 pounds Contract Code F USDTRY0423 F USDTRY0623 F USDTRY0823 Standard Size Settlement 28-Apr-23 30-Jun-23 31-Aug-23 1000 Price 19.90 21.50 23.00 USD 1. It is March 31, 2023. A local firm knows it will buy 150,000 ounces of silver for production use in three months. The payment will have to be made in U.S. dollars. Describe the positions the firm needs to take simultaneously eliminate its silver price and currency risk exposures using the silver and U.S. dollar futures available. The settlement dates and prices of available contracts given in the left- and right-hand-side tables. Contract Code F XAGUSD0423 F XAGUSD0623 F XAGUSD0823 Standard Size Settlement 28-Apr-23 30-Jun-23 31-Aug-23 10 Price 23.30 23.60 24.00 pounds Contract Code F USDTRY0423 F USDTRY0623 F USDTRY0823 Standard Size Settlement 28-Apr-23 30-Jun-23 31-Aug-23 1000 Price 19.90 21.50 23.00 USD