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There are some exceptions to this rule: for example, the Japanese often quote their currency as the base to other currencies.
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In the movie, Lorraine happened to have recently moved to Los Angeles from Wisconsin.
But he does want to complete his exercise without getting “run over by somebody” in his Milwaukee neighborhood of Bay View.
In some areas of Europe and in the retail market in the United Kingdom, EUR and GBP are reversed so that GBP is quoted as the fixed currency to the euro.
In order to determine which is the fixed currency when neither currency is on the above list (i.e.
Exchange rates are determined in the foreign exchange market, which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends, i.e. The spot exchange rate refers to the current exchange rate.
The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.