Question
foreign exchange rate is the rate at which:
Answers
GPT-4o mini
The foreign exchange rate is the rate at which one currency can be exchanged for another. It represents the value of one currency in relation to another and is determined by various factors, including supply and demand, interest rates, inflation, and economic stability.
For example, if the exchange rate between the US dollar (USD) and the euro (EUR) is 1 USD = 0.85 EUR, this means that one US dollar can be exchanged for 0.85 euros. Exchange rates can fluctuate continuously due to market conditions and are critical for international trade, investments, tourism, and economics overall.
For example, if the exchange rate between the US dollar (USD) and the euro (EUR) is 1 USD = 0.85 EUR, this means that one US dollar can be exchanged for 0.85 euros. Exchange rates can fluctuate continuously due to market conditions and are critical for international trade, investments, tourism, and economics overall.