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3 Tutorials that teach Foreign exchange and currency
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Foreign exchange and currency

Foreign exchange and currency

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Author: Colton Cranston
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This lesson covers foreign exchange and currency.
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Tutorial

Notes on "Foreign Exchange and Currency"

Key Terms

Exchange Rate

The value of one currency relative to another, exchange rate is subject to demand factors, and as a currency is more highly sought after than another, its value will appreciate or increase relative to the other.

Currency

A unit of national exchange.

Base Currency

In an exchange rate calculation, the base currency is the currency being purchased. The exchange rate provides the amount of the price currency needed in the exchange.

Price Currency

In an exchange rate calculation, the price currency is the currency exchanged for a unit of the base currency. The exchange rate provides the amount of the price currency needed in the exchange.