Understanding Forex Exchange Rate
The price of the domestic currency of a country, which is calculated in terms of another currency is known as the foreign exchange rate. The exchange rate basically compares a country’s currency with that of another and gives the relative values of both currencies. Today, with globalisation, as organisations grow bigger in terms of their international ties and investors, the changes in the rate of a country’s currency can have a significant impact on their investing power in different markets. Investors should be completely aware of the effect of the fluctuating money exchange rate, which can help them prepare better for any circumstance that may come their way. Additionally, being aware of the exchange rates also comes in handy during forex or foreign currency trading as well. With Muthoot Finance’s foreign exchange portal, you can stay updated about the latest changes in the currency exchange rates with ease.