Economic change is the kind of change did they respond.
What is meant by the exchange rate?
- The rate at which one currency will be exchanged for another is known as the exchange rate.
- Some exchange rates are linked or locked to the value of a particular country's currency, however most exchange rates are floating and will increase or decrease depending on market supply and demand.
- In other words, the exchange rate is the cost of one currency relative to another. In the foreign exchange market, one dollar can be traded for 120 yen, for instance, if the exchange rate between the U.S. dollar (USD) and the Japanese yen (JPY) is 120 yen per dollar.
- The rate at which one currency will be exchanged for another is known as the exchange rate in the world of finance. Most often, currencies are national ones, but they can also be supra-national ones like the euro or sub-national ones like Hong Kong.
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