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1 January, 03:31

How is the exchange rate determined in a fixed exchange rate system. (Economics)

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  1. 1 January, 06:11
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    In a fixed-exchange rate system, one country's exchange rate is determined by comparing it to another country's rate (or to the value of gold). The purpose of this is to explain one currency in terms of another that is more stable in order to make investments and values more rational and predictable.
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