Which statement describes the foreign exchange rate?

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asked Feb 11, 2017 199k views

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CPhil · Answer 1 · 2017-02-18T02:28:56+0000

The foreign exchange rate is a rate at which one currency is exchanged for another, and it exists because not all currencies are worth the same. In short, money of one country is worth more than money of a different country.

Which statement describes the foreign exchange rate?

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