Common use of Foreign Currency Clause in Contracts

Foreign Currency. If ▇▇▇▇ enters into any transaction for Customer effected in a currency other than U.S. dollars: (a) any profit or loss caused by changes in the rate of exchange for such currency shall be for Customer's Account and risk and (b) unless another currency is designated in ▇▇▇▇'▇ confirmation of such transaction, all margin for such transaction and the profit or loss on the liquidation of such transaction shall be in U.S. dollars at a rate of exchange determined by ▇▇▇▇ in its discretion on the basis of then prevailing market rates of exchange for such foreign currency.