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Discuss how interpersonal factors influence the business buying decision process.
Closing Rate
Closing Rate refers to the exchange rate between two currencies at the end of a trading period, used in accounting to convert the financial statements of foreign subsidiaries.
Spot Rate
The current market price at which a particular currency can be bought or sold for immediate delivery.
Forward Rate
The agreed-upon exchange rate for a currency transaction that will occur at a future date, used as a hedging instrument against currency fluctuations.
Average Rate
An indicative value representing the mean of several different rates or prices, commonly used in finance.
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