Review:
Currency Exchange Rates
overall review score: 4.5
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score is between 0 and 5
Currency exchange rates refer to the value at which one currency can be exchanged for another. This is an important aspect of global economics and impacts international trade, investment, and tourism.
Key Features
- Fluctuate based on market conditions
- Determine the cost of foreign goods and services
- Have implications for multinational businesses
Pros
- Facilitates international trade and travel
- Helps in comparing costs across different countries
- Can provide opportunities for arbitrage
Cons
- Volatility can lead to uncertainty for businesses
- Exchange rates may be manipulated for economic gain
- Affect purchasing power of consumers