Tamil Nadu Board of Secondary EducationSSLC (English Medium) Class 9th
Advertisement Remove all ads

What is meant by foreign exchange? - Social Science

Advertisement Remove all ads
Advertisement Remove all ads
Short Note

What is meant by foreign exchange?

Advertisement Remove all ads

Solution

  1. Currency is the medium of exchange in a country.
  2. The Indian currency is called the Indian Rupee.
  3. In a country, the foreign currency is called foreign exchange.
  4. Purchasing capacity of all currencies in the world are compared using the US dollar as the standard currency.
  5. This value differs from country to country.
  6. Most of the international trade transactions are carried out in the US dollar.
Concept: Relationship Between Money and Prices
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Tamil Nadu Board Samacheer Kalvi Class 9th Social Science Answers Guide
Chapter 4.03 Money and Credit
Exercise | Q IV. 7 | Page 306
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×