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Define fixed exchange rate.how is the …

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Define fixed exchange rate.how is the exchange rate determined in flexible exchange rate system

Posted by Atul Patel 6 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Mala Jaiswal 6 years, 7 months ago

Fixed exchanve rate refers to the rate of foreign exchange fixed by the government and not by market forces. Foreign bank sell and buy their currency at fixed rate. The basis of this type of exchange rate is to maintain stability in foreign trade and capital movement. It is used under gold standard system where currency was determined in terms of gold . Flexible exvhange rate refers to that rate of foreign exchange which id determined by market forces that id supply and demand.. it is also called floating exchange rate

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