- Exchange Rate. Money Management
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SERVICE MANUAL SUPER STAR 121
Exchange Rate. Money Management
In some areas of Europe and in the retail market in the United Kingdom, EUR and GBP are reversed so that GBP is quoted as the fixed currency to the euro.
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It is also regarded as the value of one country’s currency in relation to another currency. For example, an interbank exchange rate of 119 Japanese yen (JPY, ? 119 will be exchanged for each US$1 or that US$1 will be exchanged for each ? In this case it is said that the price of a dollar in relation to yen is ?
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Exchange rates are determined in the foren exchange market, which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends, i.e. The spot exchange rate refers to the current exchange rate.
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The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.
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