Exchange-Rate Regime
In: Encyclopedia of Governance
Exchange-Rate Regime
DOI: http://dx.doi.org/10.4135/9781412952613.n180
Subject: Governance
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The exchange rate represents the price at which one currency can be bought by another. Currency trading takes place on auction markets, known as foreign exchange markets, where annual turnover now exceeds global domestic product (GDP) by a factor in excess ...
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