Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct? Assertion (A) A fixed exchange rate protects only the payer. Reason (R) Due to fixed exchange rate, a payer is not exposed to an additional risk. Codes

• A.                                  Both A and R are true, and R is the correct explanation of A
• B.                     Both A and R are true, but R is not the correct explanation of A
• C.                     A is true, but R is false
• D.                     A is false, but R is true