When the foreign exchange market determines the relative value of a currency, we say that the country is adhering to a pegged exchange rate regime
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FALSE
When the foreign exchange market determines the relative value of a currency, we say that the country is adhering to a floating exchange rate regime. Four of the world's major trading currencies—the U.S. dollar, the European Union's euro, the Japanese yen, and the British pound—are all free to float against each other.
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As the ruble's value fell through most of 2014, Russian consumers rushed to change rubles to dollars and euros and to buy big-ticket items such as big-screen TVs and luxury cars
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An indemnity is an obligation on the part of a principal to reimburse the agent against any losses incurred when the latter is acting on behalf of the former
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