The spot exchange rate is best thought of as how much you need to pay in one currency to buy another at any moment in time. Spot rates are usually set through the globalforeign exchange (forex)market where currency traders, institutions, and countries clear transactions and trades. The forex...
The article reports that OTC iron ore swap prices stabilized on September 6, 2011 as a result of deals made on the physical spot market. A broker said that physical trades were fairly unchanged. Swap deliveries in September were traded at 178 U.S. dollars per tonne while October contracts ...