Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
What is fixed exchange rate system?
Expert Solution
Step 1
Fixed exchange rate system
It is a standard forced by an administration or national bank that connects the official cash swapping scale of the nation with the money of another nation or the gold coast.
Step 2
A fixed swapping scale framework has the point of keeping the estimation of cash inside a limited band. This framework has the reason for keeping the estimation of money inside a tight band.
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