Question

How is the exchange rate of a currency determined?​

Answer 1

Answer:

YESSSS

Explanation:

Exchange rates are determined in the foreign exchange market,[2] which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday. The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.