A bank enters into a forward purchase TT Covering an export bill for Swiss Francs 1,00,000....
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A bank enters into a forward purchase TT Covering an export bill for Swiss Francs 1,00,000. at 232,4000 duo on 25th April and coveted itself for same delivery in the local inter bank marker at 32,4000 However, on 25th, March, exporter sought for cancellation of the contract as the tenor of the bill is changed: In Singapore market, Swiss Francs were quoted against US dollars as under: 1.5076/ 1.5120 1.5150/1.5160. 1.5250/1.5270 Three months forward 1.5415/ 1.5445 Spot USD I -Sw.Fes. One month forward Two months forward and in the interbank market US dollars were quoted as under: Spot USD 1 49.4302/ 4455 Spot/ April 4100/4200 Spot/May 4300/4400 Spot/June 4500/4600 Calculate the cancellation charges, payable by the customer if exchange margin required by the bank is 0.10% on buying and selling. TACSAT A bank enters into a forward purchase TT Covering an export bill for Swiss Francs 1,00,000. at 232,4000 duo on 25th April and coveted itself for same delivery in the local inter bank marker at 32,4000 However, on 25th, March, exporter sought for cancellation of the contract as the tenor of the bill is changed: In Singapore market, Swiss Francs were quoted against US dollars as under: 1.5076/ 1.5120 1.5150/1.5160. 1.5250/1.5270 Three months forward 1.5415/ 1.5445 Spot USD I -Sw.Fes. One month forward Two months forward and in the interbank market US dollars were quoted as under: Spot USD 1 49.4302/ 4455 Spot/ April 4100/4200 Spot/May 4300/4400 Spot/June 4500/4600 Calculate the cancellation charges, payable by the customer if exchange margin required by the bank is 0.10% on buying and selling. TACSAT
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