Foreign exchange rates in some nations are set by a governing body or tied to the gold standard or the us dollar.
What is foreign exchange rates?
Foreign exchange rate can simply be defined as the price of the domestic currency with respect to another currency. However, the purpose of foreign exchange is to compare one currency with another for showing their relative values.
So therefore, foreign exchange rates in some nations are set by a governing body or tied to the gold standard or the us dollar.
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