When studying abroad last year, Blake found that his U. S. dollars did not stretch as far as he had hoped. Each time he exchanged U. S. dollars for euros, he gave up more U. S. dollars in exchange for less euros. The exchange rate indicates: ___.

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Jaylin Trujillo

19 July, 18:17

When studying abroad last year, Blake found that his U. S. dollars did not stretch as far as he had hoped. Each time he exchanged U. S. dollars for euros, he gave up more U. S. dollars in exchange for less euros. The exchange rate indicates: ___.

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Answers (1)

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Jayvon Saunders · Answer 1

Floating

Explanation:

Exchange rates between two currencies generally can be floating or pegged.

A floating exchange rate as can be seen in this scenario is a situation where the amount of a currency given in exchange for a unit of another currency varies in amount from time to time.

In the case of being pegged they are fixed.