Foreign Exchange Rates

Foreign exchange rates are the prices at which one currency can be exchanged for another. They fluctuate based on supply and demand, economic indicators, interest rates, and geopolitical events. For example, if you're traveling from the U.S. to Europe, you'll exchange your dollars for euros at the current rate. A strong dollar means you get more euros for each dollar, while a weak dollar means fewer euros. These rates affect international trade, investments, and travel costs, reflecting the economic health and stability of countries. Understanding exchange rates is essential for anyone dealing with different currencies.