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Sir in this question they have divided by spot rate and forward rate why because its should be multiply i think because its quoted euro to dollar
It is quoted as euros to 1 dollar.
Therefore to convert the euros into dollars we need to divide by the exchange rate.
(if 4 euros = 1 dollar, then 8 euros = 8/4 = 2 dollars).
Do watch my free lectures on this because I do spend time explaining which rate to use and whether to multiply or divide.
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