Question

Which statement describes the foreign exchange rate? A. the rate at which currency is spent in a foreign country B. the rate at which people exchange currency for foreign goods and services C. the rate at which one currency is converted to another currency

Answer 1

Answer:

definetly C. on PLATO

Explanation:

the rate at which one currency is converted to another currency.

Hope this helps!!!

Brainliest???

Answer 2

Option (c) The rate at which one currency is converted to another currency.

The foreign exchange rate is as follows:

• In finance, an exchange rate is a rate at which one currency will be exchanged for another currency.
• Foreign Exchange Rate is defined as the price of the domestic currency with respect to another currency.
• The purpose of foreign exchange is to compare one currency with another for showing their relative values.
• Also, the Foreign exchange rate is defined as the amount of domestic currency that must be paid in order to get a unit of foreign currency.

Hence, option (c) is the correct answer.

To learn more about the Foreign exchange rate, refer to:

https://brainly.com/question/6675565

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