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Eduncle Best Answer
Forward Exchange : A contract to buy and sell foreign exchange against another currency at some fixed rate in the future at a price agreed upon now.
Hedging : A device of covering exchange risk against the price rise of foreign currency.
Arbitrage : A Mechanism which makes two markets that are physically separate, a single market in the economic sense.
Specie Point : The movement of exchange rate between two limits set by the cost of moving gold from one country to another.