By how much did the banks liability change, Microeconomics

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By how much did the banks liability change

Problem

A foreign exchange trader with a U.S. bank took a short position of $5 million when the f:$ exchange rate was 1.45. Subsequently, the exchange rate changed to 1.51. Is this movement in the exchange rate good from the point of view of the position taken by the trader? By how much did the bank's liability change because of the change in exchange rate?

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Microeconomics: By how much did the banks liability change

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Microeconomics: By how much did the banks liability change

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