Meaning of Foreign Exchange Rate:
Advertisement
The rate at which the currency of one country is exchanged for the currency of another country is called the exchange rate or the rate of exchange. In other words the exchange rate is the price which paid in domestic currency for a foreign currency.
Significance of Foreign Exchange Rate:
I. By linking the currencies of different countries foreign exchange rate facilities the comparison of international costs and prices.
II. Foreign exchange rate also governs the flow and direction of foreign trade.
Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites!
If you want to join us, please mail to [email protected]
Latest posts by BMS Team (see all)
- Meterdown Annual Festival is back with its 7th edition – Starts today! - January 16, 2020
- Tybms sem 6 results 2019 declared on 19th June 2019 - June 19, 2019
- TYBMS Sem 6 Results 2019 Update from BMS khabri! - June 15, 2019
… [Trackback]
[…] There you can find 45749 more Information to that Topic: bms.co.in/meaning-and-significance-of-foreign-exchange-rate/ […]