ECONOMICS
FOREIGN CURRENCY MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is is the trading of different national currencies or units of account
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Importation
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Foreign Exchange
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Credit Market
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None of the above
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Explanation:
Detailed explanation-1: -Foreign exchange is the trading of different national currencies or units of account. It is important because the exchange rate, the price of one currency in terms of another, helps to determine a nation’s economic health and hence the well-being of all the people residing in it.
Detailed explanation-2: -Forex, also known as foreign exchange or FX trading, is the conversion of one currency into another.
Detailed explanation-3: -The types are: 1. Nostro Account 2. Vostro Account 3. Loro Account.
There is 1 question to complete.