The total gain or loss from entering in a trade transaction with future settlement and entering on the same day into a forward contract with a bank regarding the settlement is equal to the difference between the rates at:

Select one:

a.The date of the transaction and the date of its settlement

b.31/12 (financial year-end) and the forward rate

c.The date of converting the money into the local currency and the forward rate

d.None of these answers

e.The date of settlement of the transaction and the forward rate.

f.The date of the transaction and the date of converting the money into the local currency