If the value date of forward USD/JPY transactions is declared a holiday in either New York or Tokyo, the correct value date will be:
A) The value date of the centre which is open.
B) The next business day of the centre which is closed.
C) The next business day when both NewYork and Tokyo are open.
D) None of the above.

Question

Quizplus · Accepted Answer

The value date for forward transactions should be a business day in both centers involved in the transaction. If the value date falls on a holiday in either New York or Tokyo, it is moved to the next business day when both centers are open.

If the Value Date of Forward USD/JPY Transactions Is Declared