Question: On January 9 , 2 0 2 3 , you convert 7 0 0 , 0 0 0 U . S . dollars to Japanese

On January 9,2023, you convert 700,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months? Use the data in Table 91 for this problem. Note: Round your answer to 2 decimal places. (e.g.,32.16)
Exchange Rates: New York Closing Snapshot Monday, January 9,2023U.S.-dollar foreign-exchange rates in late New York trading Country/Currency In US$ Per US$
Friday Thursday Friday Thursday
Americas
Argentina peso 0.00560.0056180.0715179.2837Brazil real0.19030.19145.25515.2255Canada dollar0.74690.74371.3391.34471-month forward0.74840.7421.33631.34783-month forward0.74880.74241.33551.3476-month forward0.74950.74321.33421.3455Chile peso0.00120.0012835.63841.38Colombia peso0.00020.00024,851.394,860.00Ecuador US dollar1111Mexico peso0.05220.052319.142119.1343Uruguay peso0.02510.025139.8839.88Asia-PacificAustralian dollar0.69140.68761.44631.4543China yuan0.14770.14626.77256.8385Hong Kong dollar0.12810.12817.80397.8064India rupee0.01220.012282.181882.2737Indonesia rupiah0.00010.000115,568.0015,633.00Japan yen0.00760.0076131.89132.111-month forward0.00760.0076131.3546131.84993-month forward0.00770.0076130.3049130.79696-month forward0.00780.0077128.6118129.0943Kazakhstan tenge0.00220.0022462.55464.77Macau pataca0.12430.12428.0458.05Malaysia ringgit0.22850.22714.37554.4035New Zealand dollar0.63720.63981.56941.563Pakistan rupee0.00440.0044228.29228.23Philippines peso0.01810.01855.12555.522Singapore dollar0.75150.74741.33061.3379South Korea won0.00080.00081,239.691,253.85Sri Lanka rupee0.00270.0027367.5365.5Taiwan dollar0.03280.032730.4830.58Thailand baht0.02990.029633.4533.82Vietnam dong0023,452.0023,470.00EuropeBulgaria lev0.54870.54411.8221.838Czech Rep. koruna0.04470.044322.36122.557Denmark krone0.14430.14316.93036.9876Euro area euro1.07351.06440.93160.93951-month forward1.07661.06260.92880.94113-month forward1.08061.06680.92540.93746-month forward1.08621.07220.92070.9327Hungary forint0.00270.0027369.33370.59Iceland krona0.00690.007143.97143.65Norway krone0.10090.09999.914310.0064Poland zloty0.22860.22674.37494.4102Romania leu0.21780.2164.59184.6295Russia ruble0.01430.013869.91572.5Sweden krona0.09610.095110.403610.5106Switzerland franc1.08531.07760.92140.9281-month forward1.09261.07750.91520.92813-month forward1.09961.08460.90940.9226-month forward1.11021.0950.90080.9133Turkey lira0.05330.053518.772618.6983Ukraine hryvnia0.02720.027136.7536.85UK pound1.21851.20930.82070.82691-month forward1.22021.20560.81960.82943-month forward1.22181.20740.81850.82826-month forward1.2241.20960.8170.8268Middle East/AfricaBahrain dinar2.65252.65250.3770.377Egypt pound0.03620.036827.600327.1979Israel shekel0.28810.28523.47093.5065Kuwait dinar3.26973.26590.30580.3062Oman sul rial2.59742.59740.390.39Qatar rial0.27360.27463.65533.6417Saudi Arabia riyal0.26620.26613.75643.7586South Africa rand0.0590.0

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