The number of Japanese yen (¥) required today to buy one U.S. dollar ($) today is called:
A) the spot rate.
B) the exact rate.
C) the forward rate.
D) the retail rate.

Question

Quizplus · Accepted Answer

The spot rate is the current exchange rate between two currencies. In this case, it is the amount of Japanese yen needed to buy one U.S. dollar at the current moment. The other options, such as the exact rate, forward rate, and retail rate, are not commonly used terms to describe the current exchange rate between two currencies.

The Number of Japanese Yen (¥) Required Today to Buy