We’re all aware that currencies move up and down relative to each other. Just ask any holiday maker how a difference in the exchange rate can make them feel
Exchange rates specify how much one currency is worth compared to another. For example, an exchange rate of $1 to the Indian Rs. 54.41 means that Rs. 54.41 you have will be worth $1 when you go to America. In addition to the official exchange rate, you might find that you’re charged commission when you want to change some currency; this is because exchange bureaus want to make a profit on their dealings.
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