MKT-4468 GM Micro Challenge
In it your manager is giving you tasks to address regarding international trade. You are not expected to be an expert, just willing and able to use the resources available to develop an accurate response.
Your memo should start with an introduction that reminds the manager what s/he requested you to do. Next, overview the information your manager can expect to find in your memo. After that, respond to each topic you were requested to address in sequence. For each topic, your response should clearly state the question(s) you understood you were to address. Then give a written response to the question that summarizes the source information. Your written response should then be supported with (1) an image that shows the specific source information you used, and (2) a weblink to that source in case your manager wants to seek out additional information. Note: An image does not replace your written response, it only shows the source information used. Finally, you may choose to provide a conclusion to your memo.
Images may be screen clipped to include them. That image should show the name of YOUR COUNTRY/YOUR STATE.
To: You
From: Your Manager
Date: Sept 26, 2021
Subject: Trade Finance
Below are some questions that clients have posed recently. Janet had to travel abroad again so these questions are now yours. As before, she did leave some of her initial sources.
1. A company in YOUR STATE gave a customer in YOUR COUNTRY a price quote US$ 25,000 (CIF) on July 1, 2021. They expect to be paid in US$ on Sept 28, 2021. The foreign exchange rate between these two currencies has changed over this time. How much more/less of their currency is our customer going to have to convert on Sept 28 than if they had converted it on July 1?
Indicate the exchange rate between the US$ and YOUR COUNTRY’s currency on July 1, 2021.
US$__1_____ = __________ US$_25,000_ = __________
Indicate the exchange rate between the US$ and YOUR COUNTRY’s currency on Sept 28, 2021.
US$__1_____ = __________ US$_25,000_ = __________
This website will give you current exchange rates as well as historical exchange rates for over 100 currencies. https://www.x-rates.com/historical/ (Links to an external site.)
2. The Export-Import (Ex-Im) Bank of the United States has Bank Loan