A Canadian importer has ordered $1,000,000 USD worth of software to be delivered in six months. The importer fears that the Canadian dollar will depreciate to USDCAD=1,55$ in the next 6 months. As a result, the importer purchases $1,000,000 USD at today’s prevailing six-month forward rate of USDCAD=1,52$. What is the savings to the importer from his dealings in the forward market, if his predictions were right?
$30,000 USD
$30,000 CAD
$20,000 USD
$20,000 CAD