what are exchange rates?what are its type? class 10 ncert history.
Answers
Exchange rates are the amount of one currency you can exchange for another. For example, the dollar's exchange rate tells you how much a dollar is worth in a foreign currency. For example, if you traveled to the United Kingdom on January 29, 2019, you would only receive 0.77 pounds for your one U.S. dollar. You would get a little less than the exchange rate as the banks charge their service fee. Conversely, a pound was worth $1.31.
types of exchange rate :
1) flexible exchange rate
2) fixed exchange rate
Exchange rates are the amount of one currency you can exchange for another. For example, the dollar's exchange rate tells you how much a dollar is worth in a foreign currency. For example, if you traveled to the United Kingdom on January 29, 2019, you would only receive 0.77 pounds for your one U.S. dollar. You would get a little less than the exchange rate as the banks charge their service fee. Conversely, a pound was worth $1.31.
types of exchange rate :
1) flexible exchange rate
2) fixed exchange rate
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