The spot transaction is the purchase of foreign exchange with the delivery and payment will take place

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The spot transaction is the purchase of foreign exchange with the delivery and payment will take place between banks at a future date. Assume that XYZ company bought Japanese Yen on Tuesday, which of the following will be considered as the correct description of this transaction?

Tuesday will be considered as the value date and Thursday will be considered as settlement date

Tuesday will be considered as the transaction date and Wednesday will be considered as settlement date

Tuesday will be considered as the trade date as well as the settlement date

Tuesday will be considered as the trade date and Thursday will be considered as value date

Related Book For answer-question

International Accounting

ISBN: 978-0077862206

4th edition

Authors: Timothy Doupnik, Hector Perera

Posted Date: Oct 25, 2023 08:57 AM

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The spot transaction is the purchase of foreign exchange with the delivery and payment will take place

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International Accounting

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