If Toranaga-san, who works for a Japanese trading company that operates in Japanese yen, wanted to purchase Spanish castanets from a company in Barcelona and needed euros to complete the transaction, he would use the ________ to gain access to spot euros.
A)stock market
B)foreign-exchange market
C)New York Stock Exchange
D)international export market

Question

Quizplus · Accepted Answer

The foreign-exchange market is where currencies are traded, including the exchange of Japanese yen for euros needed to purchase the Spanish castanets from the Barcelona company. The stock market is not involved in currency exchange, the New York Stock Exchange is a specific stock exchange and not relevant to this transaction, and the international export market refers to the sale and shipment of goods, not currency exchange.

If Toranaga-San, Who Works for a Japanese Trading Company That