Question

the buying rate of 1 chinese yuan declared by money exchange center is Rs 16.25.If the money exachange center bought 8000 chinese yuan and sold them so that it earned Rs 12000 peofit,find the selling rate of chinese yuan​

Answer 1

Answer:

exchange one currency for another. Exchange rates fluctuate constantly throughout the week as currencies are actively traded. This pushes the price up and down, similar to other assets such as gold or stocks. The market price of a currency – how many U.S. dollars it takes to buy a Canadian dollar for example – is different than the rate you will receive from your bank when you exchange currency. It is often a key element of financial trilemmas. Here's how exchange rates work, and how to figure out if you are getting a good deal.