BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not the type of Exchange rates?
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Ready
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Value Tom
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Backward Transaction
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Forward Transaction
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Explanation:
Detailed explanation-1: -There are four main types of exchange rate regimes: freely floating, fixed, pegged (also known as adjustable peg, crawling peg, basket peg, or target zone or bands ), and managed float.
Detailed explanation-2: -Exchange rates of a currency can be either fixed or floating. Fixed exchange rate is determined by the central bank of the country while the floating rate is determined by the dynamics of market demand and supply.
Detailed explanation-3: -Some of the major types of foreign exchange rates are as follows: 1. Fixed Exchange Rate System 2. Flexible Exchange Rate System 3. Managed Floating Rate System.
Detailed explanation-4: -It is the rate at which one currency can be converted into another currency.
There is 1 question to complete.