 | American-style option | | | | This type of option can be exercised at any time, i.e. not only on the expiration date > European-style option
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| Anchor currency | | | | In a system of > fixed exchange rates the > reference or key currency against which all member countries define > parity.
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| Appreciation/upvaluation | | | | Downward movement in an exchange rate. Opposite of > depreciation / devaluation.
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| Arbitrage | | | | Profiting from differences in the price of identical currencies/securities on different markets by buying on the market where the price is lower and selling on the market where the price is higher.
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| Asked price | | | | Price at which a bank is prepared to sell foreign currency or lend funds (= selling rate).
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| At-the-money | | | | An option is “at-the-money” when the price of the underlying instrument is equal to or very close to the strike price.
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