As any international traveler has experienced firsthand, foreign currency exchange can be a tricky business. Why, exactly, does one dollar not equal one British pound? Why does will one dollar yield approximately 30 Romanian lei at the airport in Bucharest? And who sets these rates? If these are questions you share, iMinds has a clear, concise, and straight-to-the-point answer for you. In under eight minutes, the precise, even voice of Emily Sophie Knapp will explain the issues surrounding foreign currency exchange, including its history.
Learn about Foreign Currency Exchange with iMinds Money's insightful fast knowledge series. Foreign currency exchange is the transaction of monetary business between two different countries. When conducting any business, participants must eventually be paid in the currency of their own country, regardless off whether the business is domestic or international. As a result, the exchange of foreign currency is an integral part of international business.A key aspect to foreign currency exchange is the rate of exchange between two different currencies. The ‘exchange rate’ is the value of foreign currency that can be obtained with one unit of the domestic currency. It is in a constant state of change. Economic growth can lead to a rise in the exchange rate. High interest rates can attract foreign investment, causing a rise in the exchange rate. Conversely, if inflation is higher domestically than overseas, increasing prices and falling demand for exports can lead to a fall in the exchange rate. This makes foreign currency exchange very complicated. iMinds will hone your financial knowledge with its insightful series looking at topics related to Money, Investment and Finance.. whether an amateur or specialist in the field, iMinds targeted fast knowledge series will whet your mental appetite and broaden your mind.
iMinds will hone your financial knowledge with its insightful series looking at topics related to Money, Investment and Finance.. whether an amateur or specialist in the field, iMinds targeted fast knowledge series will whet your mental appetite and broaden your mind.iMinds unique fast-learning modules as seen in the Financial Times, Wired, Vogue, Robb Report, Sky News, LA Times, Mashable and many others.. the future of general knowledge acquisition.
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