The number of yen earned by the enterprise from selling dollars in the future:100000 *141.55, and the actual number of yen earned after paying the handling fee.
100000* 14 1.55*( 1-0.25%)= 14 1 196 12.5
If no forward transactions are made, the number of Japanese yen convertible at the spot exchange rate at maturity is 100000* 130.20.
Loss avoidance:100000 *141.55 * (1-0.25%)-100000 *130.20 =/kloc-