ECONOMICS
FOREIGN CURRENCY MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The rate at which one currency is converted into another
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Foreign Exchange Market
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Currency Conversion
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Currency Swaps
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Exchange Rate
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Explanation:
Detailed explanation-1: -An exchange rate is a relative price of one currency expressed in terms of another currency (or group of currencies). For economies like Australia that actively engage in international trade, the exchange rate is an important economic variable.
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