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Oriole Autos has contracted with an Indian software firm for design software. The payment of 20,700,000...

Oriole Autos has contracted with an Indian software firm for design software. The payment of 20,700,000 rupees (Rs) is due in 30 days. What is the cost in dollars if the 30-day forward rate is Rs60.00/$. (Round answer to 2 decimal places, e.g. 15.25.)

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Answer #1

Cost = Payment / Fwd rate

= 20,700,000 / 60

= $ 345,000

COst of Software is $ 345,000

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