Question 1

How are exchange rates determined?

Accepted Answer

Rates are set by supply and demand in forex markets. Central bank policies, economic data, and geopolitics affect them.

Question 2

What is the difference between buy and sell rates?

Accepted Answer

Banks sell currency at higher rates than they buy. The difference (spread) is their profit.

Question 3

When is the best time to exchange currency?

Accepted Answer

Rates fluctuate constantly. For large amounts, monitor trends or use limit orders. Avoid airport exchanges.

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