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When a currency trades at a forward discount in the forward market a. the forward rate is less than the spot rate. b. the forward

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

a. the forward rate is less than the spot rate.

b. the forward rate is more than the spot rate.

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

d. the exchange rate is less than it was yesterday.

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