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When a currency trades at a discount in the forward market * the exchange rate is less than it was yesterday. the forward rate is

When a currency trades at a discount in the forward market *

the exchange rate is less than it was yesterday.

the forward rate is less than the spot rate.

the forward rate is more than the spot rate.

the forward exchange rate is less than one dollar (e.g. 1.00 = $0.928).

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