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24.02.2014 admin
Money exchange rate identifies the actual value of one countries money in terms of other countries money. Money exchange rate is varying in one country to other country for their different mechanisms.
Many countries are gaining more advantages in their international trades by manipulating the market for their Money to keep the value low. A criminal investigation has been launched into whether a number of traders at top banks colluded to artificially fix rates in the ?3 trillion-a-day foreign exchange markets.
Britain’s financial regulator, the Financial Conduct Authority, started a review of the global currency markets last year.
For an example, an interbank Money exchange rate of 78 Bangladeshi Taka (BDT) to the United States dollar (US$) means that BDT 78 will be exchanged for each US$1 or that US$1 will be exchanged for each BDT 78.

The Money exchange rate becomes more valuable when demand for it is greater than the available supply. Many countries are trying to decrease their Money exchange rate for reducing the exports cost which is very helpful for removing their ailing economy. The Bank of England has also been dragged into the affair - it has asked Lord Grabiner QC to look into whether any of its own officials were implicated in forex manipulation between 2005 and 2013. Money exchange rate is controlled in the foreign exchange market, which is open for different types of buyers and sellers where Money trading is continuous. For this function, it determines the Money exchange rate regime that will apply to the currency. And also the Money exchange rate becomes less valuable when demand for it is less than the available supply.

We need to buy foreign Money in a bank in our home country where we can by foreign currency cash, travel card etc. For this reason, currency exchange rate plays a vital role in countries economic condition.
The Money exchange rate as well as fees and charges can vary significantly on each of these transations, and the exchange rate can vary from one day to the next. Now a days, many countries government are trying to keep their currency remain a small range.

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