Question

Select the statements that are true.

Answer 1

The first three options are right

Explanation:

Exchange rate:

• The "price  or value of one country's currency" is exchanged for the price of "another country's currency value".
• The exchange rate always varies. It gets updated everyday.
• Exchange rates are calculated based on the value of "interest rate, trade, inflation, growth rate, employment and geopolitical conditions".

• There are two ways in which currency value is determined. A floating value is identified by the open market.
• We must travel to another country when we need more exchange rates.