The transaction in which the exchange of currencies takes place at a specified future date, subsequentto the spot date is known as a ______
A currency forward is a binding contract in the foreign exchange market that locks in the exchange rate for the purchase or sale of a currency on a future date.
X | Y | Z | |
Cost | 7 | 10 | 19 |
Fair Value | 10 | 8 | 15 |
Units | 100 | 200 | 300 |