Ask Question
BusinessBusiness
15 May, 11:56

In at least two complete sentences, explain why a traveler will need to visit a currency exchange. Include how exchange rates are determined.

+4
Answers (1)
  1. 15 May, 14:08
    0
    It is necessary for a traveler to visit the currency exchange, if he/she is traveling to foreign countries. The currency of his country is exchanged against the currency to which it is pegged.

    The exchange rate of the currency can be determined in two ways: fixed rate and floating rate.

    Explanation:

    The currency exchange is a business that has the legal right to exchange the currency of one country with the currency of another country. This type of business is known as foreign exchange market.

    It is necessary for a traveler to visit the currency exchange, if he/she is traveling to foreign countries. Each and every country has unique currency system. It is necessary to get the currency of the country we are visiting.

    The exchange rate of the currency can be determined in two ways: fixed rate and floating rate.

    The exchange rate of the currency is decided by the government based on the market force and geopolitical condition.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In at least two complete sentences, explain why a traveler will need to visit a currency exchange. Include how exchange rates are ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
It's important to realize that when it comes to distracted driving it is not about bad teens doing bad things, it's about good teens making poor choices. True / False.
Answers (1)
If the price of a product increases, then the budget line rotates and the optimal quantity demanded, which corresponds to the higher price, decreases.
Answers (1)
While providing services to Palmer Co., Raider Group caused damages of $125,000. As of the end of the year, both parties agree that it is probable that Raider will pay Palmer the full amount of the damages within the next two months.
Answers (1)
A country has an annual income per capita of $2,300. The country's nominal economic growth rate is 1.5% while 37.7% of its population lives below the poverty line, and its literacy rate is 48% of the population.
Answers (1)
One of the rules of a common market is that all participating nations will uphold a common tariff on goods and services that are imported from countries that are not members of the trading bloc.
Answers (1)
New Questions in Business
The effectiveness of a boycott depends on worker's ability to do what?
Answers (2)
Managers at Wrise & Schein want to make sure their decisions about compensation, promotions and firings are based on sound information that meet legal requirements. One way to achieve this objective would be to:
Answers (1)
A mission statement allows a company to communicate to workers and customers
Answers (1)
Presented below is information related to Coronado Company at December 31, 2017, the end of its first year of operations.
Answers (1)
The publisher from needs to change his calculations. Before the book is actually produced, rising paper costs increase variable costs to $2.10 per book.
Answers (1)
Home » Business » In at least two complete sentences, explain why a traveler will need to visit a currency exchange. Include how exchange rates are determined.
Sign Up Forgot Password?