Currency Exchange Rates

Currency exchange rates refer to the value of one country's currency in relation to another's. They determine how much of one currency you need to exchange for a unit of another currency. These rates fluctuate based on supply and demand in the foreign exchange market, influenced by factors like economic stability, interest rates, inflation, and geopolitical events. For instance, if the exchange rate between the US dollar and the Euro is 1.10, it means 1 Euro can be exchanged for 1.10 US dollars. Understanding these rates is essential for travel, trade, and investment.