Asked by Aleya Smith on May 01, 2024
Verified
The price of one currency stated in terms of another currency is called a foreign exchange rate.
Foreign Exchange Rate
Foreign Exchange Rate is the price at which one currency can be exchanged for another currency, which can fluctuate based on market conditions.
- Comprehend the principle of foreign exchange rates and their importance in the context of global investments.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
True
Explanation :
This statement is true. The exchange rate represents the value of one currency in terms of another currency, and it fluctuates constantly depending on various economic, political, and social factors.
Learning Objectives
- Comprehend the principle of foreign exchange rates and their importance in the context of global investments.