In this case it is said that the price of a dollar in relation to yen is ¥129, or equivalently that the price of a yen in relation to dollars is $1/129.Įach country determines the exchange rate regime that will apply to its currency. For example, an interbank exchange rate of 129 Japanese yen to the United States dollar means that ¥129 will be exchanged for US$1 or that US$1 will be exchanged for ¥129. The exchange rate is also regarded as the value of one country's currency in relation to another currency. ![]() Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. ![]() ![]() In finance, an exchange rate is the rate at which one currency will be exchanged for another currency.
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