Question: A currency hedge fund based in the U.S. entered into a six-month forward contract to buy EUR 9mn. At the time the hedge fund entered

A currency hedge fund based in the U.S. entered into a six-month forward contract to buy EUR 9mn. At the time the hedge fund entered the contract, the one-year forward rate stood at EURUSD 1.1,719. When the contract expired, the spot rate was EURUSD 1.2,376. Calculate the profit or loss (in USD) for the hedge fund. Note: Enter your answer rounded to the nearest USD. If your answer is $10,405.27, enter it as 10,405. If your answer is negative because it represents a loss, enter the negative sign before the number, e.g. -10,405

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