A foreign currency contract that gives the holder of the contract the right to purchase a currency at a fixed price any time before the published expiration date is called a:

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A foreign currency contract that gives the holder the right to purchase a currency at a fixed price any time before the published expiration date is known as a call currency option. This option allows the buyer to benefit from a favorable exchange rate by locking in a fixed price for a future purchase of the foreign currency, thereby avoiding potential losses due to currency fluctuations.

A Foreign Currency Contract That Gives the Holder of the Contract