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Exchange Rate & Trade Barriers | Chapter 4 (ZB_2.4)

An exchange rate is the rate at which one currency can be exchanged for another. This is the value of the currency of another country, compared with your own currency. You must "purchase" the local currency if you're going to another country. Similar to a price set for any asset, the exchange rate is the price at which you can purchase that specific currency.
  • Economics | Chapter 4
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