Country and Currency Name Today’s Currency Exchange Rate
Techtopia
(Techtopian dollar, or TPA) 1 USD = 1 TPA
Crosswater
(Crosswatering dollar, or CSW) 1 USD = 20 CSW
Nearland
(Nearlandian dollar, or NRD) 1 USD = 5 NRD
In at least two complete sentences, explain why a traveler will need to visit a currency exchange. Include how exchange rates are determined.
1 answer
A traveler will need to visit a currency exchange because each country has its own currency, and the exchange rate determines the value of one currency in terms of another. Exchange rates are determined by factors such as supply and demand for the currencies, interest rates, inflation, and political stability. Therefore, a traveler will need to exchange their home currency for the local currency of the country they are visiting in order to make purchases and transactions while they are there.
1 answer