Assume an FI Holds a Foreign Exchange Position of EUR $\times$

Multiple Choice

Assume an FI holds a foreign exchange position of EUR 200 000 and further assume that the dollar per unit of EUR rate is $1.053/EUR. What is the dollar value of the position (round to two decimals) ?

A) EUR 200 000 $\times$ 1.053 = $210 600.00
B) EUR 200 000 $\times$ 1.053 = EUR 210 600.00
C) EUR 200 000 / 1.053 = $189 933.52
D) EUR 200 000 / 1.053 = EUR 189 933.52