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What is an exchange rate?
A
A currency has no value alone; its value is measured against another currency.
B
A cheaper pound makes UK goods, assets and holidays better value to foreigners.
C
The price of one currency expressed in terms of another currency.
D
They need pounds to buy UK shares, government debt or bank deposits.
Card 1 of 23
4.3.1 Draw how exchange rates are determined Flashcards
23 flashcards on OCR GCSE Economics 4.3.1 Draw how exchange rates are determined: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.