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Select the statements that are true.

The amount of one currency that can be traded for a unit of another currency is the exchange rate.
Many exchange rates float, or constantly change.
It is best to travel abroad when the exchange rate gets you more units of a foreign currency.
Units of currency from different countries have the same value.

Respuesta :

The first three options are right

Explanation:

Exchange rate:

  • The "price  or value of one country's currency" is exchanged for the price of "another country's currency value".
  • The exchange rate always varies. It gets updated everyday.
  • Exchange rates are calculated based on the value of "interest rate, trade, inflation, growth rate, employment and geopolitical conditions".
  • There are two ways in which currency value is determined. A floating value is identified by the open market.
  • We must travel to another country when we need more exchange rates.

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