Saturday, October 31, 2009

How is the exchange rate for currencies determined? Is there some formula for it?

One dollar is equivilant to 46 rupees. How did this figure come?



How is the exchange rate for currencies determined? Is there some formula for it?

This figure is set by international currency markets. The link below will take you to a chart showing how the exchange rate has fluctuated between 44 and 55 over the past five years.

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