A Foreign Currency ________ Contract Calls for the Future Delivery

question 46

Multiple Choice

A foreign currency ________ contract calls for the future delivery of a standard amount of foreign exchange at a fixed time, place, and price.

• A) futures
• B) forward
• C) option
• D) swap

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Definitions:

Remittances

Money sent by individuals working abroad to their family or others in their home country.

Dollar Price

The cost or valuation of a good, service, or asset denominated in U.S. dollars.

British Pound

The British Pound is the official currency of the United Kingdom, recognized globally and commonly represented by the symbol £.