An FX Forward Outright Has Been Dealt for a Value

Multiple Choice

An FX forward outright has been dealt for a value date which is subsequently declared to be a bank holiday. According to the Model Code, the exchange rate for the deal:

A) should be adjusted to take account of the change in value date
B) cannot be adjusted if one of the counterparties wishes to adjust the rate but the other wishes to keep the original rate
C) must be adjusted if one of the counterparties wishes to adjust the rate but the other wishes to keep the original rate
D) should be adjusted if the adjustment is for two days or longer but not if it is for only one day