Economy, asked by shreyansh5477, 8 months ago

Define foriegn exchange rate. How foreign exchange rate is determined in an independent market ?

Answers

Answered by proxly40

Explanation:

The exchange rate (ER) will be determined independently by each bank but will essentially be determined by supply and demand in the market. In other words, the bank sets the exchange rate at each moment to equalize its supply of foreign currency with the market demand....

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