Question

Foreign exchange refers to:

Options

• the price of one currency in terms of gold in the domestic market.

• the price of one currency determined by government of other country.

• the price of one currency in relation to other currencies in the international money market.

• none of the above.

Answer 1

the price of one currency in relation to other currencies in the international money market.

Explanation:

Exchanging one country's currency for another at a current exchange rate is known as foreign exchange. The exchange of one currency for another is known as forex.