Although a foreign exchange transaction can involve any two currencies, most transactions involve pounds on one side.

a. True

b. False

Question

Biology

Jagger Sexton

15 November, 18:15

Although a foreign exchange transaction can involve any two currencies, most transactions involve pounds on one side.

a. True

b. False

+3

Answers (1)

Know the Answer?

Mylie Mcknight · Answer 1

The statement is b. False.

As the statement says, any two currencies can be involved in foreign exchange transactions, but the Pound is not a must, and is only used when a company from a country that uses the Pound as a currency is involved. Much more dominant and broadly used are the Dollar (the USD more specifically) and the Euro for example.

Although a foreign exchange transaction can involve any two currencies, most transactions involve pounds on one side.a. Trueb. False

Although a foreign exchange transaction can involve any two currencies, most transactions involve pounds on one side.

a. True

b. False