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O-LevelEconomicsInternational trade and globalisation2281/11 · May/June 2019 · Q281 Mark

What is the most accurate definition of a foreign exchange rate?

Arate at which exports are exchanged for imports
Brate determined by the demand and supply of the currency
Cvalue of a currency as fixed by the government
Dvalue of a currency expressed in terms of another currency

✓ Correct answer

D: value of a currency expressed in terms of another currency

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Topic
International trade and globalisation, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source
O-Level Economics, May/June 2019 Paper 1 Variant 1, question 28.

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