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Open Economy Macroeconomics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsOpen Economy Macroeconomics1 Mark
Question
Give the meaning of equilibrium foreign exchange rate.
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Answer

When the demand for some currency in terms of another currency equals its supply, then foreign exchange is said to be in equilibrium and this rate is known as equilibrium foreign exchange rate.

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