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what do you mean by exchange rate? ho0w it is determined?
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Answer Posted / shilpa arora
Exchange rate between two countries specifies how much one
currency is worth in terms of the other.
It is value of foreign national currency in terms
of home nation currency.
Exchange rate= e[P/Pf]
P= Domestic price level
Pf= foreign prce level
| Is This Answer Correct ? | 6 Yes | 3 No |
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