Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'currency forward rate'?

A. rate of exchange between two currencies for settlement at some future point in time, expressed as a premium on the spot rate
B. indicative middle market (mean of spot buying and selling) rate as observed by the reporting source
C. exchange rate quoted at a specific point in time, for a given block amount of currency as quoted against another (base) currency
D. rate at which one currency may be exchanged for another for immediate delivery

Answer: rate of exchange between two currencies for settlement at some future point in time, expressed as a premium on the spot rate