​A ____ Involves an Exchange of Currencies Between Two Parties

question 72

Multiple Choice

​A ____ involves an exchange of currencies between two parties, with a promise to re-exchange currencies at a specified exchange rate and future date.

• A) ​long-term forward contract
• B) ​currency option contract
• C) ​parallel loan
• D) ​money market hedge

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Definitions:

Whirling Dervishes

Whirling Dervishes are members of the Sufi tradition of Islam, performing a ceremonial dance known as the Sema, which symbolizes a spiritual journey and the ascent of the soul towards God.

Sufism

A mystical Islamic belief system focused on the inward search for God and shunning materialism.

Hajj

An Islamic pilgrimage to Mecca that is required of all Muslims who are physically and financially able to undertake it at least once in their lifetime.

Islam

A monotheistic religion articulated by the Quran, with Muhammad as the last prophet, emphasizing submission to Allah.