What Rate Should Be Used If the Settlement Date in a Foreign

Multiple Choice

What rate should be used if the settlement date in a foreign exchange transaction is no longer a "good" date?

A) The original rate of the transaction
B) The original rate of the transaction adjusted by the relevant forward points
C) The affected parties should agree to adjust the exchange rate according to the prevailing relevant forward mid swap points at the time the bank holiday is announced
D) The rate is open to negotiation by the two parties