Questions: The standard size foreign exchange transactions are for: 1 million USD 10 million USD 1 million euro 10 million British pound

The standard size foreign exchange transactions are for: 1 million USD 10 million USD 1 million euro 10 million British pound
Transcript text: The standard size foreign exchange transactions are for: 1 million USD 10 million USD 1 million euro 10 million British pound
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Solution

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The answer is the first one: 1 million USD.

Explanation for each option:

  1. 1 million USD: This is a common standard size for foreign exchange transactions, especially in the interbank market. It is a typical lot size used by traders and financial institutions.
  2. 10 million USD: While larger transactions do occur, 10 million USD is not considered the standard size for typical foreign exchange transactions.
  3. 1 million euro: Although 1 million euro is a significant amount, the question specifically asks for the standard size, which is more commonly referenced in USD.
  4. 10 million British pound: Similar to the 10 million USD option, this is a larger transaction size and not the standard for typical foreign exchange transactions.

Summary: The standard size for foreign exchange transactions is 1 million USD.

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