Grants the right to buy a specific currency at a designated strike price or exercise price within a specific period of time.If the spot rate rises above the strike price, the owner of a call can exercise the right to buy currency at the strike price.The buyer of the option pays a premium.If the spot exchange rate is greater than the strike price, the option is in the money. If the spot rate is equal to the strike price, the option is at the money. If the spot rate is lower than the strike price, the option is out of the money.