(A). A forward contract is an agreement to buy or sell a currency at a fixed rate on a specified future date. It is a customised contract traded over-the-counter.

(B). A futures contract is a standardised agreement to buy or sell a currency at a set price on a future date. It is traded on regulated exchanges.

(C).

An option is a contract giving the holder the right, but not the obligation, to buy or sell a currency at a specified price within a set period.