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Foreign exchange traders in germany

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Question: X and Y are foreign exchange traders in Germany. X agreed to sell 100 million Mexican pesos to Y for delivery within one week at an agreed-upon price in German marks. X was three days late in making delivery. During those three days, the Mexican government acted to devalue the Mexican peso by 20 percent. Y now sues in a German court to have the contract set aside. Will Y be successful? Explain.

Reference no: EM131768616

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