A spot transaction in the interbank market for foreign exchange would typically involve a two-day delay in the actual delivery of the currencies, while such a transaction between a bank and its commercial customer would not necessarily involve a two-day wait.

Question

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Spot transactions in the interbank market typically involve a two-day delay in actual delivery of the currencies due to settlement procedures, while transactions between a bank and its commercial customer may be completed on the same day or within a shorter timeframe depending on the agreement between the parties.

A Spot Transaction in the Interbank Market for Foreign Exchange