A currency put option provides the right, but not the obligation, to buy a specific currency at a specific price within a specific period of time.

Name: A currency put option provides the right, but not the obligation, to buy a specific currency at a specific price within a specific period of time.
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A currency put option provides the right, but not the obligation, to sell a specific currency at a specific price within a specific period of time.

A Currency Put Option Provides the Right, but Not the Obligation