The value at which one country obtains another country’s currency is?

By: |Published on: Mar 15|Categories: Commerce WAEC| 0 comments

A. terms of trade
B. exchange rate
C. bank rate
D. terms of payment

Correct Answer: Option B

B. exchange rate

Explanation

An exchange rate is the value of a nation’s currency in terms of the currency of another nation or economic zone.

Users Also Read These:

SEE ALSO  When a vendor supplies news papers from house to house and across the streets; the element of marketing mix involved is?

Copyright warnings! Do not copy.