General Studies · International Business
Which of the following statements is true regarding foreign exchange markets?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The role of the Central Bank in the foreign exchange market is commercial in nature.
- 2Forward exchange rate is the rate of that specific day on which the transaction has immediately taken place.
- 3Cross rate is the exchange rate between two currencies derived from the exchange quotes of other pairs of currencies.✓
- 4The rate at which a foreign exchange dealer is ready to sell a currency is called the bid rate.
Correct answer
Cross rate is the exchange rate between two currencies derived from the exchange quotes of other pairs of currencies.
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