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What is the value of the export receipt

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Question - An Australian export company wishes to sell its euro receipts, EUR 500 000, through an FX dealer and receives the following quote: 'Aussie EURO spot is one-twenty-two fifty-five to sixty five'. What is the value of the export receipt?

a. $407 664.09

b. $407 996.74

c. $612 750.00

d. $613 250.00

Reference no: EM133036627

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