Each month, the Sports Exports Company $($a U$.$S$.$ firm$)$ receives an order for footballs from a

British sporting goods distributor. The monthly payment for the footballs is denominated in

British pounds, as requested by the British distributor. Jim Logan, owner of the Sports Exports

Company, must convert the pounds received into dollars.

Explicitly explain how the Sports Exports Company could utilize the spot market to facilitate the exchange of currencies.