Related Exam Boards: GCE A-Level, IB (HL), Edexcel (A2), OCR, AQA, Eduqas, WJEC
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Exchange rates refer to the price of one currency in terms of another. People buy products and services in another currency in different situations, such as for travelling and investing internationally. Exchange rates determine how much of the other currency you can get with your own, and is affected by demand and supply factors. For example, higher demand for the USD (US Dollar) would mean it will become more expensive and more GBP (British Pounds) will be required to be exchanged for USD. There are various exchange rate systems, including the fixed, floating and managed float exchange rate system.
Exchange Rate Revision Notes
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