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What do you mean by foreign exchange?
Foreign Exchange is Exchange between two currency.
What does an exchange rate of 1 and 150 between the European euro and Japanese yen mean?
A currency trader can buy 150 yen with only one euro.
How to calculate the exchange rate between two currencies?
To calculate the exchange rate between two currencies, you can use the formula: Exchange Rate Value of One Currency / Value of Another Currency. This will give you the amount of one currency needed to buy one unit of the other currency.
What is an exchange rate of 120 between the Canadian dollar and Japanese yen means?
An exchange rate of 120 between the Canadian dollar (CAD) and the Japanese yen (JPY) means that 1 Canadian dollar is equivalent to 120 Japanese yen. This rate indicates how much of one currency can be exchanged for a unit of the other, reflecting the relative value of the two currencies in the foreign exchange market. If the CAD appreciates or depreciates against the JPY, the exchange rate will change accordingly.
How can I find the exchange rate between two currencies?
You can find the exchange rate between two currencies by checking financial websites, using currency converter tools, or contacting banks or currency exchange services.
Explain the difference between indirect and direct exchange rates?
The difference between indirect and direct exchange rates is that an indirect exchange rate is the number of foreign currency units that may be obtained for one local currency unit and a direct exchange rate is the number of local currency units needed to acquire one foreign currency unit. The direct exchange rate has the local currency units in the numerator (the U.S. dollar for the direct exchange rate for the U.S. dollar).
What is the difference between yen and yuan Chinese currency?
Yen is the Japanese currency whereas yuan is the currency used in China.
What are cross rates and How are they determined?
Cross rates refer to currency exchange rates between two currencies that are not the official currencies of the country in which the exchange rate quote is given. They are calculated by comparing each currency to a common third currency, typically the US dollar. For example, if you want to find the cross rate between the euro and the Japanese yen, you would first convert both to the US dollar and then divide one by the other.
What is currency exchange rate?
currency exchange rate means values between two other countries currency. For example, the value of indian rupee againts one US dollar is 60.64
How do you calculate the exchange rate between two countries?
To calculate the exchange rate between two countries, you can use the formula: Exchange Rate Price of one currency / Price of another currency. This means you divide the value of one currency by the value of another currency to determine how much of one currency is needed to buy one unit of the other currency. Exchange rates are constantly changing due to various factors such as supply and demand, economic conditions, and geopolitical events.
How do you calculate the exchange rate between two currencies?
To calculate the exchange rate between two currencies, you can use the formula: Exchange Rate Value of One Currency / Value of Another Currency. This will give you the amount of one currency needed to buy one unit of another currency. You can also use online currency converters or consult financial institutions for the most up-to-date rates.
What is the average exchange rate between two specific dates?
The average exchange rate between two specific dates is the average value of one currency in terms of another currency over that time period.
