Question: An agreement regarding a position in a specified currency, a specified exchange rate, and a specified future settlement date. Payment is made by one party

An agreement regarding a position in a specified currency, a specified exchange rate, and a specified future settlement date. Payment is made by one party to the other based on the exchange rate at the future date. This agreement is called: Select one: a. Non-deliverable forward contract b. forward contract c. futures contract d. options contract e. none of these

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