Foreign Exchange Transaction.Define each of the following types of foreign exchange transactions: a.Spot. b.Outright forward. c.Forward-forward swaps. Solution a.Spot.- An agreement of buying one currency in exchange of selling another currency at a agreed price decided by both the parties on a spot date for settlement b.Outright forward.- The transaction relating to buying and selling of currency at determined rate till given range of date or at future time c.Forward-forward swaps :- Transaction relating to buying and selling of same currency in exchange of another currency on dates of outright forward date and spot date ( two dates).