What is sport exchange rate? How is this
determined?
What are the functions of commodity boards?
Or
Answers
Answer:
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Explanation:
The spot exchange rate is the amount one currency will trade for another today. In other words, it's the price a person would have to pay in one currency to buy another currency today. You could also think of it as today's rate that one currency can be traded with another.
Exchange rate determination in Spot Market. Balance of Payments: Balance of Payments represents the demand for and supply of foreign exchange which ultimately determine the value of the currency. ... Put differently, export from the country creates demand for the currency of the country in the foreign exchange market.
Commodity Boards are statutory in character and Operate under the administrative Control of the Ministry of Commerce. Their major functions are: (a) To takes active interest in production, development and exports of respective Commodities. (b) To introduce new methods of cultivation of commodities.
Answer:
A spot rate, or spot price, represents a contracted price for the purchase or sale of a commodity, security, or currency for immediate delivery and payment on the spot date, which is normally one or two business days after the trade date. The spot rate is the current price quoted for immediate settlement of the contract.
For example, if during the month of August a wholesale company wants immediate delivery of orange juice, it will pay the spot price to the seller and have orange juice delivered within two days.