Question

NEED HELP ASAP 80 POINTS. Foreign Exchange Rates i) Calculate foreign exchange rates for several currencies every Monday for four weeks. ii) Explain why some vary more and some are more stable.'

Answer 1

Exchange rates tell you how much your currency is worth in a foreign currency. Think of it as the price being charged to purchase that currency. Foreign exchange traders decide the exchange rate for most currencies. They trade the currencies 24 hours a day, seven days a week. This market trades $5.3 trillion a day.