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later this week, you are traveling from the u.s. to canada for a week's vacation. this morning, you exchanged some u.s. dollars for canadian dollars in preparation for that trip. which one of the following best describes this exchange? group of answer choices arbitrage transaction spot trade eurocurrency transaction forward trade

Respuesta :

(Right Option) A spot trade is a transaction in which the currency exchange takes place immediately, rather than being deferred to a later date. This is what has occurred in this situation, as the US dollars have been exchanged for Canadian dollars in preparation for the trip.

Exchanging US Dollars for Canadian Dollars

  • Spot Trade

In preparation for a week-long vacation to Canada, this morning a traveler exchanged some US dollars for Canadian dollars. This is an example of a spot trade, which is a transaction in which the currency exchange takes place immediately. Spot trades are commonly used for travelers who need to exchange currency before their trip. This exchange ensures that the traveler has the correct currency for their destination before they leave.

Learn more about Trading: https://brainly.com/question/25818989

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