POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is an exchange rate?
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The rate at which goods are exchanged between two countries
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The price of one nation’s currency in terms of another’s
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How many US dollars you can exchange for RMB at Travelex
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The price of goods in terms of a foreign currency
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Explanation:
Detailed explanation-1: -An exchange rate is a rate at which one currency will be exchanged for another currency. Most exchange rates are defined as floating and will rise or fall based on the supply and demand in the market. Some exchange rates are pegged or fixed to the value of a specific country’s currency.
Detailed explanation-2: -An exchange rate is a relative price of one currency expressed in terms of another currency (or group of currencies).
Detailed explanation-3: -A currency swap, sometimes referred to as a cross-currency swap, involves the exchange of interest-and sometimes of principal-in one currency for the same in another currency.
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