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.
The AUD/NZD surged higher and closed just below the key 1.0800 level on Tuesday, taking the pair back to a critical level not seen since September. The Reserve Bank of…
