Economics · Foreign Exchange
Which of the following best explains the term 'exchange rate'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Government tax rate on foreign trade
- 2Rate of interest charged by commercial banks
- 3Rate at which general inflation increases
- 4Price of one currency in terms of another currency✓
Correct answer
Price of one currency in terms of another currency
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