A forward exchange contract
A) gives the owner the right to purchase a foreign currency at some point in the future and any
gains or losses are credited/debited to the account at the close of business each day.
B) requires delivery, at a specified future date, of one currency for a specified amount of another
currency.
C) gives the owner the right, but not the obligation, to buy a foreign currency at a fixed exchange
rate for a fixed period of time.
D) requires delivery, within two working days, of one currency for a specified amount of another
currency.
B
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