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Exchange rates are an effective way to analyze the price of one currency in terms of another currency with the tools of demand and supply.
exchange rate
Exchange rates describe the relative worth of one's own currency to another country. Either a fixed or free-floating exchange rate is possible. A free-floating exchange rate fluctuates according to changes in the foreign exchange market, whereas a fixed exchange rate is tied to the value of another currency. Therefore, using the techniques of supply and demand to examine the price of one currency relative to another, exchange rates are a useful tool.
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