What is the correct term for the price of a country's domestic currency in terms of a given foreign currency?
A)Demand for dollars
B)Statistical discrepancy
C)Trade rate
D)Exchange rate

Question

Quizplus · Accepted Answer

The exchange rate is basically the price of a country's domestic currency in terms of a given foreign currency.
Key Takeaway: In most places, exchange rates are determined by supply and demand in the market. The opposite, fixed exchange rates, are set by government forces and were largely given up by the United States and most of the world's countries in the 1970s. Although governments still sometimes intervene in order to keep order, exchange rates world over are mainly determined by supply and demand.

What Is the Correct Term for the Price of a Country's