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Economics · May / June 2019 · Paper 11 · Question 28

2281Foreign exchange rates

What is the most accurate definition of a foreign exchange rate?

  1. Aa rate at which exports are exchanged for imports
  2. Ba rate determined by the demand and supply of the currency
  3. Ca value of a currency as fixed by the government
  4. Da value of a currency expressed in terms of another currency

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Correct answer: D. a value of a currency expressed in terms of another currency

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