With Foreign Exchange Contracts, Currencies Are Exchanged

With foreign exchange contracts, currencies are exchanged

A) at the specified future date, but at the rate agreed upon at the date of the contract.
B) immediately, but at the rate agreed upon at the date of the contract.
C) both parties must place the amount of the contract in escrow until the exercise date of the contract.
D) payment is made immediately, but the contracted currency will be delivered at the specified future date.