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

Toranaga-san would use the foreign-exchange market to exchange his Japanese yen for Euros so that he can purchase the Spanish castanets from the Barcelona company. The other options listed are not relevant to the specific need of exchanging currency for a foreign transaction.

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