Which of the following describes the way the futures price of a foreign currency is quoted by the CME group?
A. The number of U.S. dollars per unit of the foreign currency
B. The number of the foreign currency per U.S. dollar
C. Some futures prices are always quoted as the number of U.S. dollars per unit of the foreign currency and some are always quoted the other way round
D. There are no quotation conventions for futures prices
A
The futures price is quoted as the number of US dollars per unit of the foreign currency. Spot exchange rates and forward exchange rates are sometimes quoted this way and sometimes quoted the other way round.
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