Question

Select the correct answer.
How do you define the term: foreign exchange rate?
value of currency of an importing nation
value of one nation’s currency in terms of other nation’s currency
value of currency of an exporting nation
rate charged by the commission agent
inflationary rate of the nation’s economy

Answer 1

a foreign exchange rate is the prize of the domestic currency stated in terms of another currency. in words, a foreign exchange rate compares one currency with another to show the relative values.