A foreign currency contract that obligates the holder of the contract to take delivery of a foreign currency sometime in the future is called a:

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A long-hedge currency futures contract obligates the holder to buy a specific quantity of foreign currency at a predetermined price on a specific future date. This is done to hedge against the risk of currency fluctuations. A call currency option gives the holder the right, but not the obligation, to purchase a specific foreign currency at a predetermined price on a specific future date. A put currency option gives the holder the right, but not the obligation, to sell a specific foreign currency at a predetermined price on a specific future date. A short-hedge currency futures contract obligates the holder to sell a specific quantity of foreign currency at a predetermined price on a specific future date.

A Foreign Currency Contract That Obligates the Holder of the Contract