What is meant by exchange rate Also give example of exchange-00732
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vu cs501 Advance Computer Architecture.
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vu cs501 Mid Term Solved Past Paper No. 2.
EXCHANGE RATE:
Rate at which one currency may be converted into another. The exchange rate is used when simply converting one currency to another (such as for the purposes of travel to another country), or for engaging in speculation or trading in the foreign exchange market. There are a wide variety of factors which influence the exchange rate, such as interest rates, inflation, and the state of politics and the economy in each country.also called rate of exchange or foreign exchange rate or currency exchange rate.
EXAMPLE:
An exchange rate of 123 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 123 is worth the same as USD 1.
