Buying or selling future fx contractsForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Buying or selling future fx contractsThis topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts May 30, 2015 at 4:00 pm #250671 BrianHMemberTopics: 44Replies: 40☆☆Hi sirIf the spot rate is given as $/£1.5 and we are due to pay $2.3m in 6 monthsI would assume that we need to buy now and sell later, as we are worried that the rate will increase, fair enoughBut if the futures contracts are quoted as £/$, eg the inverse of the rate above, how do we deal with this when calculatin the lock in rate??I assume we need all rates to be quoted in the same order eg $/£ or £/$??Thanks May 30, 2015 at 4:01 pm #250673 John MoffatKeymasterTopics: 57Replies: 54478☆☆☆☆☆Yes – you need to invert the quotes if necessary to make sure they are both quoted in the same way.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In