The commission fee a firm pays to foreign exchange dealers for changing cash from one currency into another currency is known as:

Question

Quizplus · Accepted Answer

The commission fee paid to foreign exchange dealers for changing cash from one currency into another currency is known as transaction cost. Option A "foreign exchange tax" is not accurate as there is no specific tax that is paid on foreign exchange transactions. Option B "transfer fee" is not specific to foreign exchange and can apply to any type of transfer. Option D "conversion tax" is not commonly used and may not accurately describe the fee.

The Commission Fee a Firm Pays to Foreign Exchange Dealers