Question: The spot is 1.05 / while the 1-month forward rate is 1.05. You agree to buy 2 million at the 1-month rate. Next month the

The spot is 1.05 / while the 1-month forward rate is 1.05. You agree to buy 2 million at the 1-month rate. Next month the spot rate is 1.22/, what are your profits/losses?

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