If an individual is traveling to another country and wants to exchange currencies at his bank before departing,he will be quoted the spot rate since he is exchanging that will be delivered to him with two business days.

Question

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The spot rate is the current exchange rate for a currency, and if an individual is exchanging currencies at his bank, he will be quoted the spot rate. Additionally, the delivery of the currency will generally take two business days for settlement.

If an Individual Is Traveling to Another Country and Wants