Use the futures contract data in the following table to answer the question. Open High Low Settle Change Interest New Zealand dollar CME NZD 100,000; NZD/USD Sept 0.6043 0.6175 0.6025 0.6048 -0.0007 34,157 Dec 0.6128 0.6195 0.6105 0.6126 0.0004 1,569 A trader goes LONG three December NZD futures and the spot rate at maturity is 0.6138. What is the value of her position?
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| Use the futures contract data in the following table to answer the question. | ||||||
| Open | High | Low | Settle | Change | Interest | |
| New Zealand dollar CME NZD 100,000; NZD/USD | ||||||
| Sept | 0.6043 | 0.6175 | 0.6025 | 0.6048 | -0.0007 | 34,157 |
| Dec | 0.6128 | 0.6195 | 0.6105 | 0.6126 | 0.0004 | 1,569 |
| A trader goes LONG three December NZD futures and the spot rate at maturity is 0.6138. | ||||||
| What is the value of her position? |
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