In a Quoted Exchange Rate, the Currency with Which Another

question 119

Short Answer

In a quoted exchange rate, the currency with which another currency is to be purchased is called the ________.

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Definitions:

Demand Instrument

A financial document or security that requires payment of the specified amount on demand by the holder, without specifying a particular time for repayment.

Bearer Instrument

A negotiable financial instrument that is not registered in anyone's name and can be transferred from one person to another by possession.

Two-party Instrument

A financial document or contract that involves two parties directly, typically involving a payer and a payee.

Three-party Instrument

A financial document involving three parties, typically referring to negotiable instruments where there is a drawer, drawee, and payee.