Assertion (A) A furores contract specifies in advance the exchange rate...

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Assertion (A): A furores contract specifies in advance the exchange rate to be used, but it is not as flexible as a forward contract.
Reason (R): A futures contract is for a specific currency amount and a specific marurity date.

A. (R) is a correct explanation of (A)

B. (R) is not a correct explanation of (A)

C. (A) and (R) are not related to each other

D. (R) is irrelevant for (A)

Answer: Option A

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