difference between a spot rate and forward rate is caused by ________ rate
1:fluctuation in exchange
2.changes in base currency
3.prevailing interest
4.use of ifrs
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Answer:
These days people use about 180 currencies world wide!
The truth is that we, people, don’t want to stay isolated. We love to sell, buy, import, export, trade together and do many other things, all in foreign currencies!
When you look at the business world, you’ll see that business go global in two ways: they either have individual transactions in foreign currencies, or when they grow bigger, they often set up foreign operations (separate business abroad).
Moreover, the exchange rates change every minute. So how to bring a bit of organization into this currency mix-up? That’s why there is the standard IAS 21 The Effects of Changes in Foreign Exchange Rates.
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Answer:
yes upper answer is right
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