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Spot Value date in a foreign exchange market?
On Friday 4th December, a Banco Santander forex dealer in Madrid agrees with a Royal Bank of Scotland dealer in London to sell Euros against Sterling Pounds on a spot basis. Given that the 5th and 6th December are non-trading dates being the weekend and given that the 8th December is a public holiday in both Madrid and London, the currencies are traded for value
a)Monday 7th December
b)Wednesday 9th December
c)Thursday 10th December
I think its b. Am i right?
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