【正确答案】A currency forward contract to buy currency f at a forward price of FTd/f at time T can be replicated by purchasing a European call option on currency f with the same expiration date and an exercise price Kd/f = FTd/f and simultaneously selling a put option at the same exercise price and maturity date. Conversely, a short forward contract on currency f is a combination of a written call on f and a purchased put on f with the same expiration date and exercise price.