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Exchange Rate means the price or the ratio or the value at which one currency is exchanged for another currency.
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The bulk of the Forex markets are OTC (Over the Counter).
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Due to vastness of t he market, operating in different time zones, most of the Forex deals in general are done on ______ basis.
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In TOM exchanges, Settlement of funds takes place on the next working day of the deal.
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In SPOT exchanges, Settlement of funds takes place on the ________ working day after/following the date of Contract/deal.
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In Forward exchanges, delivery of funds takes place on any day after SPOT date.
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When the delivery of the currencies is to take place at a date beyond the Spot date, it is Forward Transaction and rate applied is called Forward Rate.
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If the value of the currency is more than being quoted for Spot, then it is said to be at a
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If the currency is cheaper at a later date than Spot, then it is called at a
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The forward premium and discount are generally based on the interest rate differentials of the two currencies involved.

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