This post discusses foreign exchange rates/two currencies.
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Define the foreign exchange rate between two currencies. Explain its effect on business transactions conducted in a foreign currency.
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The solution provides a detailed discussion defining the foreign exchange rate between two currencies and the effects on business transactions conducted in a foreign currency.
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The foreign exchange rate between two currencies are the respective values of each currency, and the direct cause is the difference produced by the two unequal rates. If the two countries conducting business are the U.S. and Canada, The value of the U.S. dollar typically trades close to, but not equal to, the Canadian dollar (CAD). One U.S. dollar is typically worth 1.02 over the CAD. This in turn means that the price of one ...
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