WHAT IT IS
Exchange rates are the price of one currency in terms of another.
WHY IT MATTERS
They affect the cost of imports, exports, travel, and overseas investments.
EXAMPLE
If 1 euro equals 1.10 dollars, a €100 item costs $110.
RELATED CONCEPTS
WHAT IT IS
Exchange rates are the price of one currency in terms of another.
WHY IT MATTERS
They affect the cost of imports, exports, travel, and overseas investments.
EXAMPLE
If 1 euro equals 1.10 dollars, a €100 item costs $110.
RELATED CONCEPTS