An exporter sells 10 lots of one month EURINR futures at 63. At the expiry, the settlement price was announced as 63.70. How much profit/loss (in Rupees) did he make on the transaction?

•An exporter sells 10 lots of one month EURINR futures at 63. At the expiry, the settlement price was announced as 63.70. How much profit/loss (in Rupees) did he make on the transaction?

Explanation: Sell Rate 63, Buy Rate 63.70.

63.70-63=0.70

0.70*1000*10= 7000 Loss