Papers by quang vinh dong
The exchange rate is the price of one currency in terms of another. Exchange rates fluctuate depe... more The exchange rate is the price of one currency in terms of another. Exchange rates fluctuate depending on the demand for a particular currency. If there is a high demand for a country's currency then its price will tend to rise. Because currencies fluctuate in price it can often be cheaper to buy goods in one country and sell them in another. To simplify that, let's imagine that you have 1 million USD to trade and get back 16bn VND, but now the exchange rate is 20000VND per 1 USD so actually you lost 3bn VND and it would let to a bankruptcy. Because of this exchange rates have a major impact on international trade.
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Papers by quang vinh dong