A
Currency Exchange Rate
is the rate at which one nation's
currency can be exchanged for
that of another. Currency
Exchange rates impact,
and are impacted by, international
trade, in a free market
system that helps to maintain
a balance of trade and balance
of capital. The exchange
rate refers to the expression
given to the national quotation
of a nation’s currency
in relation to that of the foreign
countries. It is an important
exercise since it helps in the
conversion of one country’s
currency to another.
This will eventually lead to international
trade especially for buying and
selling of goods and services
or even if one wishes to transfer
money from one country to another
it would be easier. Currency
Exchange Rate is an important
factor contributing to competitiveness
in the market since trading countries
will be able to compare prices
and therefore learn of strategies
of attracting more customers to
themselves.
"We invented money and we
use it, yet we cannot...understand
its laws or control its actions.
It has a life of its own."
Lionel Trilling, literary critic.
Currency
Exchange Rates on 27th of Jan,
2012
Australian Dollar AUD 95.1 96.3
Bahrain Dinar BHD 234.8 236.3
Canadian Dollar CAD 89.2 90.2
China Yuan CNY 13 13.5
Danish Krone DKK 16.8 17.3
Euro EUR 117.3 119
Hong Kong Dollar HKD 11.15 11.85
Indian Rupee INR 1.75 1.85
Japanese Yen JPY 1.16 1.18
Kuwaiti Dinar KWD 317.1 319.1
Malaysian Ringgit MYR 28.2 28.7
NewZealand $ NZD 71.7 72.7
Norwegians Krone NOK 16.1 17.1
Omani Riyal OMR 230 232
Qatari Riyal QAR 25.3 25.8
Saudi Riyal SAR 23.9 24.35
Singapore Dollar SGD 71.1 72.3
Swedish Korona SEK 13.05 13.5
Swiss Franc CHF 96.6 97.9
Thai Bhat THB 2.6 2.7
U.A.E Dirham AED 24.4 24.95
UK Pound Sterling GBP 140.6 142
US Dollar USD 90.15 90.5
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