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Which statement describes the foreign exchange rate?

A. the rate at which currency is spent in a foreign country
B. the rate at which people exchange currency for foreign goods and services
C. the rate at which one currency is converted to another currency

Sagot :

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Final answer:

The foreign exchange rate is the price of one currency in terms of another, determined by supply and demand in the foreign exchange market.


Explanation:

The foreign exchange rate refers to the price of one currency in terms of another currency, indicating how many units of one currency are needed to trade for one unit of another currency.

It is the rate at which different currencies are converted into one another when trading on the foreign exchange market.

This rate is determined by the interaction of supply and demand, similar to other market prices, reflecting the value of a currency relative to another.


Learn more about Foreign Exchange Rate here:

https://brainly.com/question/29727700


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