________ Is Quoted for 30 Days, 90 Days, and 180

question 57

Multiple Choice

________ is quoted for 30 days, 90 days, and 180 days into the future.

• A) A forward exchange rate
• B) A currency swap
• C) A spot exchange rate
• D) An arbitrage

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Definitions:

Bills Of Exchange Act

A law that governs the creation, transfer, and effects of a bill of exchange, which is a written order used in international trade requiring one party to pay a fixed sum of money to another party on demand or at a predetermined date.

Drawer

In the context of checks and negotiable instruments, the entity that writes and signs a check, instructing the bank to pay the stated amount to the party named on the document.

Payee

The party in a financial transaction who receives the payment.

Drawee

The party in a transaction who is directed to pay a specified amount of money, often referenced in the context of a check or draft.