When an American tourist exchanges dollars for yen at a Tokyo bank, which of the following is most likely applied?

Question

Quizplus · Accepted Answer

The spot rate is most likely applied when exchanging currencies for immediate delivery. In the context of a tourist exchanging dollars for yen at a bank, the transaction would typically use the spot rate, which is the current exchange rate at which a currency can be bought or sold for immediate delivery.

When an American Tourist Exchanges Dollars for Yen at a Tokyo