The correct response is e. receive $480,000 in 90 days. Your company will receive C$600,000 in 90 days. The 90-day forward rate in the Canadian dollar is $.80. If you use a forward hedge, you will receive $480,000 in 90 days.
Canada's official currency is the Canadian dollar. There is no standard disambiguating form; nevertheless, prominent style guides frequently recommend the abbreviation Can$ to distinguish it from other dollar-denominated currencies. It is abbreviated with the dollar sign $. There are 100 cents (¢)in it. Due to the common loon depicted on its reverse, the dollar coin and occasionally the money itself are referred to as "loonies" by English-speaking Canadians, currency dealers, and analysts. The Canadian dollar ranks behind the U.S. dollar, the euro, the yen, and sterling as the fifth most widely held reserve currency in the world, making up around 2% of all reserves.
C$600,000 x $0.80 = $480,000
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