Which of the Following Statements Is TRUE About a Vehicle

question 10

Multiple Choice

Which of the following statements is TRUE about a vehicle currency?

• A) It is widely used to denominate contracts made by parties who reside in the country that issues the vehicle currency.
• B) The dollar is sometimes called a vehicle currency because of its pivotal role in many foreign exchange deals.
• C) There is much skepticism that the euro will ever evolve into a vehicle currency on par with the dollar.
• D) The pound sterling, once second only to the dollar as a key international currency, is beginning to rise in importance.
• E) Vehicle currencies include nondeliverable currencies like the renminbi.

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Definitions:

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