If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:
A) the value date of the financial centre that is open
B) the next business day of the financial centre which is closed
C) the next business day when both New York and Tokyo are open
D) the previous business day when both New York and Tokyo are open

Question

Quizplus · Accepted Answer

The value date for a forward transaction must be a business day in both financial centers involved, so it will be the next business day when both New York and Tokyo are open.

If the Value Date of a Forward USD/JPY Transaction Is