How Exchange Rates Behave The exchange rate is the price of one currency in terms of another. The vast majority of countries use a single, unique national currency. How Exchange Rates Behave Over time, exchange rates may be stable (fixed) or may fluctuate (floating). Here, which exchange rate is fixed? Which is floating? What happened to the yuan/dollar rate in 2005?06? What happened to the dollar/euro rate in 2002?04?
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