Question: A U . S . bank has an agreement with a German bank to exchange $ 5 0 0 , 0 0 0 for E

A U.S. bank has an agreement with a German bank to exchange $500,000 for E397,000 on the first day of each of the nest three calendar quarters. This agreement is best described as a:
Floating exchange
Spot trade
Currency option
Futures contract
Swap Contract

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