Exchange rate is a rate which at which one unit of a currency is exchanges with other currency units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees. If increase in direct exchange rate would lead to gain or loss on the transaction.

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Chapter 11, Problem 11.8Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other currency units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

If increase in direct exchange rate would lead to gain or loss on the transaction.

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