An Italian bank enters into a 6-month forward contract ……
An Italian bank enters into a 6-month forward contract with an importer to sell GBP 80 million in 6 months at a rate of EUR 1.13 per GBP 1. If in 6 months the exchange rate is EUR 1.12 per GBP 1, what is the payoff to the bank from the forward contract?（ ）
A.
EUR -800,000
B.
EUR -400,000
C.
EUR 400,000
D.
EUR 800,000
