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27 August, 08:53

Describe how exchange rates get set.

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  1. 27 August, 11:55
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    - If a currency is free-floating, its exchange rate is allowed to vary against that of other currencies and is determined by the market forces of supply and demand. Exchange rates for such currencies are likely to change almost constantly as quoted on financial markets, mainly by banks, around the world.

    To set it, it's mostly the exchange rates will be set on an open foreign exchange market.
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