Forex: Exchange Rate

What are exchange rates and how they are used in Forex

The Forex Exchange Rate is a rate/figure that is used to justify the value between currencies.

It is basically a comparison in value of one nation’s currency with another nation’s currency. Exchange Rates are commonly used in Forex where currencies are traded against one another.

For example, If £1 is the equivalent to $1.50, the FX exchange for this will view as GBP/USD = 1.500

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