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2 November, 08:34

Which of the following represents the value of one nation's currency relative to the currencies ofanother country? A. Euro rateB. Currency rateC. Exchange rateD. Standard of living

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  1. 2 November, 08:41
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    Option (C) is correct.

    Explanation:

    Exchange rate refers to the rate at which various countries exchange goods and services in the world market.

    For example, the exchange rate between India and United States is as follows:

    India's currency is in Rupees and United states' currency is in dollars,

    So, the exchange is; $1 = Rs. 69

    If the cost of goods for an Indian resident is 20 US dollars then he have to pay:

    = 20 * Rs. 69

    = Rs. 1,380 in rupees for purchasing the product.
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