Describe the Difference Between Fixed and Floating Exchange Rates

question 88

Essay

Describe the difference between fixed and floating exchange rates.Which between the two is better? Explain your answer.

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Definitions:

Refracted

The process by which a wave, such as light or sound, changes direction as it passes through a boundary between two different media.

Interface

A surface forming a common boundary among two different phases, materials, or substances, in various scientific contexts.

Liquefied

Turned into a liquid form, often referring to gases that have been converted to liquid under pressure.

Tsunami

A series of ocean waves with extremely long wavelengths caused by large-scale disturbances of the ocean, such as earthquakes, volcanic eruptions, or underwater landslides.