Watermelonjunior Watermelonjunior

03-05-2024
Social Studies

Answered

What is an exchange rate?
A. The value of one currency relative to another
B. The total value of a country's imports and exports
C. Any form of money used to pay for goods
D. The increase in the price of goods over time
SUB

Answer :

GinnyAnswer GinnyAnswer

03-05-2024

An exchange rate is: A. The value of one currency relative to another. Example: If 1 US dollar can be exchanged for 0.85 Euros, the exchange rate between USD and Euros is 0.85. Explanation: Exchange rates determine how much of one currency you can get in exchange for another. They fluctuate based on various factors like economic conditions, interest rates, and geopolitical events. Understanding exchange rates is crucial for international trade, travel, and investment.

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