I just need point form answers nothing major. just the actual number, when it happened and why it happened Since the Australian dollar was floated, what is the lowest value obtained by the Australian dollar against the United States dollar and on which day did this occur? Give reasons for this low value. What was the value of the United States dollar against the Australian dollar at that time?
I just need point form answers nothing major. just the actual number, when it happened and why it happened Since the Australian dollar was floated, what is the lowest value obtained by the Australian dollar against the United States dollar and on which day did this occur? Give reasons for this low value. What was the value of the United States dollar against the Australian dollar at that time?
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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I just need point form answers nothing major. just the actual number, when it happened and why it happened
- Since the Australian dollar was floated, what is the lowest value obtained by the Australian dollar against the United
States dollar and on which day did this occur? - Give reasons for this low value.
- What was the
value of the United States dollar against the Australian dollar at that time?
nothing more just simple answers.
Expert Solution
Step 1 Introduction
A floating exchange rate is a system in which the forex market determines the value of a country's currency based on supply and demand in relation to other currencies.
This is in contrast to a fixed exchange rate, which is set fully or primarily by the government.
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