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3I0-012 · Question #68

If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:

The correct answer is C. the next business day when both New York and Tokyo are open. See the full explanation below for the reasoning.

Question

If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:

Options

  • Athe value date of the financial centre that is open
  • Bthe next business day of the financial centre which is closed
  • Cthe next business day when both New York and Tokyo are open
  • Dthe previous business day when both New York and Tokyo are open

How the community answered

(55 responses)
  • A
    13% (7)
  • B
    4% (2)
  • C
    80% (44)
  • D
    4% (2)

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