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Hi, Sir.
My question for forward market is why when we hedge the $2.4m is using 1.5996 instead of 1.6037 as we (UK) need to make payment in $, then we need to buy $.
Also, when we buy $, does it mean using the higher price?
Oh, Sorry Sir.
I seem to know why using the low rate, because we need to buy $ and the forward rate $/£1 is first currency.
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