Question

The mean of exchange rates in force during a period is konown as

Answer 1

Average rate

Hope this helps u

Answer 2

The mean of exchange rates in force during a period is known as average rate.

The price of a country's currency in relation to another country's currency is known as the exchange rate. When countries employ gold or another agreed-upon standard, the exchange rate is "fixed," and each currency is worth a specified amount of the metal or other standard. When supply and demand or speculation determine exchange rates, they are said to be "floating" (conversion units). If a country imports a big quantity of goods, demand will raise the exchange rate for that country, making imported items more expensive to domestic purchasers. As goods become more expensive, demand falls, and the currency of that country becomes less valuable in comparison to the currencies of other countries. The country's commodities become less expensive to foreign customers, demand rises, and exports increase.

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