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the value at which one country obtains another country's currency is?

Commerce
WAEC 2016

the value at which one country obtains another country's currency is?

  • A. terms of trade
  • B. exchange rate
  • C. bank rate
  • D. terms of payment
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Correct Answer: Option B
Explanation

An exchange rate is the value of a nation's currency in terms of the currency of another nation or economic zone.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts