Tuesday, 15 March 2011

Financial Markets: The foreign exchange markets and rates

For international trade to take place two currencies are involved i.e. foreign and domestic. There are two prices using exchange rates foreign and domestic and the two are brought together using an exchange rate. Exchange rate means the price of a currency in terms of another
Nominal exchange rate refers to the units of one currency to exchange for a unit of another. Price quotation system is the international currency value of a unit foreign currency.
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