Which statement is true regarding a foreign currency option?
A. A foreign currency option gives the holder the obligation to only buy foreign currency in the future.
B. A foreign currency option gives the holder the obligation to only sell foreign currency in the future.
C. A foreign currency option gives the holder the right but not the obligation to buy or sell foreign currency in the future.
D. A foreign currency option gives the holder the obligation to buy or sell foreign currency in the future at the spot rate on the future date.
E. A foreign currency option gives the holder the obligation to buy or sell foreign currency in the future.
Answer: C
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