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SWIFT in foreign exchange refers to:
AA central clearing house for FX derivatives (within the standard regulatory framework)
BA trading platform for currency futures
CA secure messaging network for cross-border payment instructions
DA regulatory body governing forex banks
Answer & Solution
Correct answer: C. A secure messaging network for cross-border payment instructions
1. Identify what the question asks: this concept maps to swift (§2).
2. Apply the framework or formula relevant to the topic.
3. Eliminate distractors and arrive at the correct option (C).
_Source: ICAI BoS CA Final Paper 2, Ch 10 "Foreign Exchange Exposure and Risk Management"_
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