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Hi.
Currency Futures – I’d like to know in this question where we use Dec futures but receiving in Nov, do we have to calculate the lock in rate for Nov? Or is Bpp right where they use the Dec futures price to find the number of contracts instead of finding the lock in rate and using that?BPP’s answer is a copy of the then examiners answer (the examiner has changed since). To be honest it is arguable as to which rate is the best to use to determine the number of contracts (and over the years, the examiners have been inconsistent). The difference will at most be one contract and you will get the marks in the exam whichever you use.
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