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Question
The rate at which the currency of one country is converted into another currency is called __________.
The rate at which the currency of one country is converted into another currency is called __________.
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Solution
The correct option is B exchange rate
In finance, an exchange rate is the rate at which one
currency will be
exchanged for another. It is also regarded as the value of one
country's currency in relation to
another currency. In the retail currency exchange
market, different buying and selling rates will be
quoted by money dealers. The exchange rate is the ratio
by which one currency is converted into another. It is the price
of one currency expressed in another currency. Exchange rates are necessary
because currencies have different values relative to one
another.
In finance, an exchange rate is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country's currency in relation to another currency. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. The exchange rate is the ratio by which one currency is converted into another. It is the price of one currency expressed in another currency. Exchange rates are necessary because currencies have different values relative to one another.
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