ECONOMICS
FOREIGN CURRENCY MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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gold
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metal
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another currency
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none of these
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Detailed explanation-1: -Exchange rates are defined as the price of one country’s currency in relation to another. They may be expressed as the average rate for a period of time or as the rate at the end of the period.
Detailed explanation-2: -Foreign exchange refers to: the price of one currency in terms of gold in the domestic market. the price of one currency determined by government of other country.
Detailed explanation-3: -The nominal exchange rate E is defined as the number of units of the domestic currency that can purchase a unit of a given foreign currency.
Detailed explanation-4: -Exchange rates are defined as the price of one country’s’ currency in relation to another country’s currency. This indicator is measured in terms of national currency per US dollar.