Which of the following is NOT true regarding the market for foreign exchange?

A$)$ The market provides the physical and institutional structure through which the money of one country is exchanged for another.

B$)$ The rate of exchange is determined in the market.

C$)$ Foreign exchange transactions are physically completed in the foreign exchange market.

D$)$ All of the above are true.

$q,$ seek to profit from trading in the market itself rather than having the foreign exchange transaction being incidental to the execution of a commercial or investment transaction.

A$)$ Speculators and arbitrageurs

B$)$ Foreign exchange brokers

C$)$ Central banks

D$)$ Treasuries

Foreign exchange $q,$ earn a profit by a bid$-$ask spread on currencies they purchase and sell. Foreign exchange $q,,$ on the other hand, earn a profit by bringing together buyers and sellers of foreign currencies and earning a commission on each sale and purchase.

A$)$ central banks; treasuries

B$)$ dealers; brokers

C$)$ brokers; dealers

D$)$ speculators; arbitrageurs

$q,$ is NOT one of the three categories reported for foreign exchange.

A$)$ Spot transactions

B$)$ Swap transactions

C$)$ Strip transactions

D$)$ Forward transactions

A $q,$ transaction in the foreign exchange market requires an almost immediate delivery $($typically within two days$)$ of foreign exchange.

A$)$ spot

B$)$ forward

C$)$ futures

D$)$ none of the above

$A$ transaction in the foreign exchange market requires delivery of foreign exchange at some future date.

A$)$ spot

B$)$ forward

C$)$ swap

D$)$ currency