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Question
A forward exchange contractA) gives the owner the right, but not the obligation, to buy a foreign currency at a fixed exchange rate for a fixed period of time.
B) gives the owner the right to purchase a foreign currency at some point in the future and any gains or losses are credited/debited to the account at the close of business each day.
C) requires delivery, at a specified future date, of one currency for a specified amount of another currency.
D) requires delivery, within two working days, of one currency for a specified amount of another currency.
Answer
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