Which of the following statements are false:

I. In free float currency regimes central banks may intervene into FX markets only to add up its official foreign currency reserves and to trade foreign currency for servicing government debt;

II. If the speculator believes that the currency is underpriced, short position will be taken in FX market;

III. Arbitrageurs exploit market inefficiencies by implementing risky-free strategies;

IV. Cross-border trade transactions take place only in USD and REM.

Select one:

a.All of the statements are false

b.All of the statement are true

c.Only I, II and IV are false

d.Only I and IV are false

e.Only I and III are false

f.Only II, III and IV are false

g.Only I, II and III are false

h.Only III and IV are false