Exchange rate: Difference between revisions
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Latest revision as of 20:00, 4 May 2023
Exchange rate, also known as the foreign exchange rate, is how much one currency is worth compared to a different one. It is the rate at which one currency can be exchanged for another. Exchanges rates can change for many different reasons, for example the inflation rate of a country. For much of the 20th century the Bretton Woods system fixed exchange rates.
