The US Dollar Has Been the Focal Point of Currency Trading

question 63

True/False

The U.S. dollar has been the focal point of currency trading since the 1940s. As a result, most of the world's currencies are quoted against the dollar.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers matches the quantity supplied by producers, resulting in market balance.

Nutella

Nutella is a brand of sweetened hazelnut cocoa spread manufactured by the Italian company Ferrero, widely popular worldwide.

Hazelnuts

Edible nuts produced by trees of the genus Corylus, known for their use in sweets and cooking.

Black Sea

A large body of water situated between Eastern Europe and Western Asia, known for its strategic importance and rich history.