Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
During early European trading on Monday, the USD/CAD currency pair remained restrained below the 1.3400 mark. The pair’s losses were supported by a decline in the US dollar (USD) and…
