June 4, you make an offsetting transaction, selling DM 500,000 for July 15 delivery forward at a rate of 0.83
What is the result?
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a) You are free of any obligation with your bank.
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.
Yes. Since you bought at a higher price than you sold.