The rate at which one currency is converted into another is the:
A)replacement percentage.
B)resale rate.
C)exchange rate.
D)interchange ratio.

Question

Quizplus · Accepted Answer

The rate at which one currency is converted into another is known as the exchange rate. This rate is determined by the demand and supply of each currency in the global market, as well as various other economic and political factors. Replacement percentage, resale rate, and interchange ratio are not commonly used terms in relation to currency exchange rates.

The Rate at Which One Currency Is Converted into Another