Exchange rates
- Created by: aditya_1999
- Created on: 15-12-14 02:33
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- Exchange rates
- What is the exchange rate
- Exchange rates are the price of one currency in terms of other currency. For example 1$ costs 30 THB
- Why are they needed
- vThey are needed because different countries have different currency so to trade with another country they make their payments in another currency.
- How are exchange rates determined
- The price of a currency is determined by the supply and the demand, it is just like any other commodities.
- For example if the Us started to demand more for the sterling, the price of ponds will rise
- Factors that affect exchange rates
- Untitled
- FDI
- The demand for exports
- What is the exchange rate
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