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For most spot foreign exchange transactions, the settlement date is two business days after the transaction date. On the transaction date, the two parties to the transaction agree on the price, which is the number of units of currency A that will be exchanged for currency B.
The parties also agree on the value of the transaction in both currencies and the settlement date.
By May 2009, eviction notices were served to the shopkeepers by the NDMC, which soon had six shops in its possession.
If both currencies are to be delivered, the parties also exchange bank information.
Speculators often buy and sell multiple times for the same settlement date, in which case the transactions are netted and only the gain or loss is settled.
On June 20, 2013, the court ruled in favour of the NDMC but cautioned it against the non-commercial use of the property.
The court instructed the shopkeepers to relinquish possession of their stores by June 30, 2013.
Transactions are for a wide range of purposes, including import and export payments, short- and long-term investments, loans and speculation. the Canadian dollar, which settles on the next business day.