Forex Exchange Rate

The rate at which one country is converted into another currency is the rate of exchange
between the currencies concerned.  In our example, if Bank of India exchanges US dollars for Indian rupees at Rs. 50 as dollars the exchange rate between rupee and dollar can be expressed as

Forex Exchange Rate

US 1 Dollar = Rs. 68.16 (on 19-11-2016)

From the foreign exchange quotation market, the rate of exchange for a currency is known. 
The banks plays a vital role in the market where operating at a financial center and deals in foreign exchange and constituting the foreign exchange market.  When the rates keep on changing frequently and violently, the demand and supply are affected by a number of factors by both fundamental and transitory.

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