Situation: June 4, you make an offsetting transaction, selling DM 500,000 for July 15 delivery forward at a rate of 0.83

• a) You are free of any obligation with your bank.
  No. You are free of the obligation only as far as Deutsche marks are concerned. But you owe the bank the difference between the sale and purchase price of the DM 500,000.
  b) You are free of any obligation and the bank credits your account.
  c) You are free of any obligation and the bank debits your account.

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