Economics · Foreign Exchange Rate
Below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct? Assertion (A): Exchange rate is the price of one country's currency in terms of another country's currency. Reason (R): It is the rate at which one currency is exchanged for another currency.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is incorrect, but (R) is correct
- 2(A) is correct, but (R) is incorrect
- 3Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
- 4Both (A) and (R) are correct and (R) is the correct explanation of (A)✓
Correct answer
Both (A) and (R) are correct and (R) is the correct explanation of (A)
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