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How is the currency exchange rate of countries decided?
I am doing a project on currencies, i need to know how the exchange rate of different currencies is determined. for example, INR to US$ is approx Rs.45. So how is this determined. Please dont give a 1 line answer, give the complete process or the link to the source.
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Exchange Rate is of two types:-
1. Nominal Effective Exchange Rate: It is that type of ER* which does not account for changes in the price level while measuring average strength of one currency in relation to others.It is defined as under-
NEER*= Σn (Ri index) (Wi)
where i=1
Here,
*NEER= Nominal Effective Exchange Rate
Σ: Sum total of all values
i= ith trading partner ( say for India)
Ri= Exchange rate with the ith partner.It refers to Rs: £ for India-UK and Rs: $ for India-USA.
Ri index: Index of exchange rate with ith partner with reference to exchange rate in the base year.
Wi: Ratio of trade volume with ith trading partner to India's total trade.
n: Number of trading partners.
Estimation of Wi-
Wi= Xi+Mi upon Xi+Mi
2. Real Effective Exchange Rate(REER): It is that type of ER which accounts for changes in the price level across different countries of the world.
It is based on Constant Prices or Real Exchange rate and is estimated as under:
REER = Σn (RERi index)(Wi)
ER* Exchange Rate
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Money Management & Personal Finance : What Determines the Foreign Exchange Rate?
To determine the foreign exchange rate for different currencies, check the local paper for exchange rates, and pay attention to the inflation rate ...
How much they usually charge for currency exchange at the airports?
I'm travelling to Brazil, and not sure how the exchange works. I am advised to exchange my money at a jewelry store, but don't know any nearby the place I'm going to. Do the jewelries store really accept currency exchanged?
The airports don't charge any extra just whatever the exchange rate is. I've noticed though that the airport rate is usually a little lower. You can often get a higher rate at the hotels or closer to your location. Just wait and see if you can exchange at your hotel, if not they can usually advise you where to go. Make sure that you are aware of what the current rate is so you know if the rate they quote is a fair one.
How do currency exchange black marketers make money?
Went to a foreign country and bought the local currency at a black market because they gave more per dollar than the banks. How do they profit if the exchange rate constantly change? What is the theory behind it?
bobby v, I found a list of US foreign currency exchanges. http://www.whatisforextrading.com Try calling one of them and see if they have a representative that can help you.
How can someone get the best currency exchange for their foreign currency?
I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate?
I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate?
I am exchanging the currency in New York.
Also, compared to the listed exchange rates for these currencies, what percentage of the cash can I expect to get back when exchanging? for example, for one of the currencies the rate was approx. 34 units to 1 US$ on a particular day, yet a currency exchange place was offering 41 units to 1 US$. Is this a reasonable difference?
Unfortunately, the three currencies that you mention aren't exactly high demand. Currency exchanges pay less for them because they are harder to sell. It also depends on where you are - The airport currency exchange in Miami or Orlando would give you a pretty good rate, but the currency exchange at Los Angeles airport probably won't because it's a lot harder for them to sell.
Where are you? I would base a specific reply on that information.
Who determines the currency exchange rate between countries?
Why is it that the areas or world with the most natural food and mineral resources (i.e. tropical countries) tend to be the poorest? Why aren't currency exchange rates all the same? What is so special about the G8 countries or economies?
strengh of economies, inflation, devaluation, supply and demand in trade and production rates, determine currency exchange rates.
The economic revolution started in the traditional western and European countries, termed the G8 (for great 8). They built up an advantage which the poorer (tropical) countries cannot catch up to.
Baxter adjusted profit tops estimates, but currency exchange hits ...
&Mdash; Specialty psychedelic and medical will maker Baxter Foreign Inc. said Thursday its profit grew 12 percent in the third billet in spite of unfavorable currency exchange rates that held back its sales.
The Deerfield, Illinois, companionship said sales of drugs, surgical products and medical materiel all improved and sales costs mow down, dollop its unseemly margins. Its profit rose to $530 million, or 87 cents per quota, from $472 million, or 74 cents per dole out, a year ago.
Baxter reported $91 million in one-mores charges in the third section. Those costs came from ending occurrence of a narcotic delivering system called Solomix, and in retirement expenses connected to the Syndeo PCA syringe blow up.
Excluding the items, profit improved to 98 cents per slice from 88 cents per parcel, a penny above Face ruin Drive expectations.
Returns was unmercifully unchanged at $3.15 billion, while analysts expected $3.19 billion, according to a survey by Thomson Reuters.
Sales of the comrades's plasma proteins and antibody products came in below expectations, best some analysts to doubt the vend for those products.
Concern shares kill $1.50, or 3.4 percent, to $55.49 in morning trading.
On a convention call, Baxter stewardship said delayed orders spurious sales of those products.
"Improvement was impacted by a modulation in the timing of plasma orders for the most part in Eastern Europe and Latin America versus our expectations," said Chief Fiscal Gendarme Rob Davis. "We now want these sales in the fourth locale."
BioSciences interest rose 2 percent to $1.4 billion due to greater sales of hemophilia and antibody numb therapies, plasma treatments and biosurgery products. Medication deliverance proceeds grew 1 percent to $1.2 billion, although kidney commodity proceeds strike down 3 percent.
U.S. sales rose 5 percent, and cosmopolitan sales hew down 4 percent. In unswerving currency, global sales grew 7 percent.
The friends's rate of sales prostrate by more than $100 million, to $1.51 billion, partly because of smaller charges.
...News
Mattel Q3 2009 Earnings Call TranscriptSeeking Alpha (blog) - Oct 16, 2009
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US clears China on currency manipulation
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Alibaba News Channel - Oct 16, 2009
Jakarta GlobeThe US Treasury Department stated Thursday that China did not manipulate its currency's exchange rate against the US dollar in the first half of 2009. US Criticizes China for Lack of Yuan 'Flexibility'US Concerned About Weak Yuan but Stops Short of AccusationChina Yuan Ends Up; US Reiterates Yuan Undervalued - -all 268 news articles »
Daily Foreign Exchange Market Summary 16/10/2009
Washington TimesThe single currency should continue to see resistance on the psychologically key $1.50 level. Sterling hit a three-week high against the US dollar, Pound May Extend Gain on Potential Pause in Quantitative EasingDollar Gets A Lift From Weak Confidence DataEuro Falters, Then Rises - -all 913 news articles »
International Business Times - Oct 16, 2009
Washington TimesThe single currency should continue to see resistance on the psychologically key $1.50 level. Sterling hit a three-week high against the US dollar, Pound May Extend Gain on Potential Pause in Quantitative EasingDollar Gets A Lift From Weak Confidence DataEuro Falters, Then Rises - -all 913 news articles »
Baxter adjusted profit tops estimates, but currency exchange hits sales ...
Medill Reports: ChicagoSales were flat at $3.14 billion, compared to $3.15 billion in the year-ago quarter thanks to the negative impact of foreign exchange. Baxter International 3Q profit rises 12 percentBaxter Profit Rises 12%, Sales Flat, Guides Inline (BAX)all 156 news articles »
Trading Markets (press release) - Oct 15, 2009
Medill Reports: ChicagoSales were flat at $3.14 billion, compared to $3.15 billion in the year-ago quarter thanks to the negative impact of foreign exchange. Baxter International 3Q profit rises 12 percentBaxter Profit Rises 12%, Sales Flat, Guides Inline (BAX)all 156 news articles »
Oil Declines After Touching One-Year High Above $78 a Barrel
RTE.ieThe US currency fell as low as $1.4967 per euro, the weakest rate since Aug. 13, 2008. In Nigeria, The Movement for the Emancipation of the Niger Delta, Weeklong crude rally stalls at the finishOil retreats from one-year highOil down towards $77 on supply, corporate earnings - -all 518 news articles »
Bloomberg - Oct 16, 2009
RTE.ieThe US currency fell as low as $1.4967 per euro, the weakest rate since Aug. 13, 2008. In Nigeria, The Movement for the Emancipation of the Niger Delta, Weeklong crude rally stalls at the finishOil retreats from one-year highOil down towards $77 on supply, corporate earnings - -all 518 news articles »