Economics · Foreign Exchange Rate
Which of the following best explains exchange rate determination in a floating exchange rate system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Determined by international monetary institutions
- 2Based solely on gold reserves
- 3Determined by demand and supply of foreign exchange✓
- 4Fixed by central bank intervention only
Correct answer
Determined by demand and supply of foreign exchange
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