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प्रश्न
What is meant by exchange rate?
What is rate of exchange?
लघु उत्तर
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उत्तर १
FOREX refers to foreign currencies. The mechanism through which payments are effected between two countries having different currency systems is called the FOREX system. It covers methods of payment, rules and regulations of payment and the institutions facilitating such payments. “FOREX is the system or process of converting one national currency into another and of transferring money from one country to another.”
shaalaa.com
उत्तर २
The exchange rate is the price at which one currency can be exchanged for another in the foreign exchange market. It shows how much of one currency is needed to buy a unit of another currency.
shaalaa.com
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