Rather than declaring that a currency is convertible into a fixed amount of some other currency,the exchange rate for the Canadian dollar instead fluctuates based on supply and demand. Canada uses what type of exchange rate?
A)Fixed
B)Floating
C)Fluctuating
D)Standard
E)Official

Question

Quizplus · Accepted Answer

The description of the exchange rate for the Canadian dollar fluctuating based on supply and demand indicates that Canada uses a floating exchange rate.

Rather Than Declaring That a Currency Is Convertible into a Fixed