https://padlet.com/stevenckelly13/2blempcxb7iz7u24 en-us 2021-11-19 07:08:39 UTC 2021-11-25 04:15:31 UTC hello@padlet.com stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901519893 Here is my padlet on exchange rates! Here I will do my best to inform and teach you on how they work and why they exist. I will also go over some other information aswell!]]> 2021-11-19 07:11:22 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901519893 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901520497 I included this video in my padlet because it is very informative on floating vs fixed exchange rates. Floating exchange rates are based on the market forces and what the economy is like in that specific country. Fixed exchange rates are when the government tries to control the value of its own currency.

I chose this video because I really didn't know that there were floating and fixed rates. I thought it was just one rate based on another country's value. I found it interesting that if a country imports and exports a lot of goods it will affect the rate while if they don't it won't affect the rate that ]]> 2021-11-19 07:11:49 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901520497 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901520879 In this video, it talks about how the exchange rate is affected and who it affects most of all people. If the exchange rate is high in the importing country, companies will outsource to other areas to find a better rate with the same quality of the product. This market is good for exporters because they will be making more money but can also hurt their business.

I found this video interesting and it definitely helped me personally when looking at buying things outside of Canada. Always buy stuff when the rate is low so it will be cheaper for you]]> 2021-11-19 07:12:09 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901520879 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901521648 Different countries will demand different currencies. The citizens of the country's currency don't demand their own they demand from others. They do this because it is cheaper at the time than when it goes high they can convert it making some money in the process. Over time the value of the other currency can appreciate in value which can lead to higher or lower returns.

I learned that when doing forex you want to pick a country with a higher interest rate to seek out the higher return value on your investment. It may however be more money to get into at the start butt can pay out well]]> 2021-11-19 07:12:45 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901521648 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522079 This video is more like a crash course on the whole exchange rates topic. It touches on a lot of different things such as demand and the effect it has. Also covers what a weak dollar and strong dollar mean in terms of exchanging currency and the effects of each one.

I liked this video because he gave a chart when comparing the differences on how a rate is affected, so you can see side by side how each is different. The presenter also did really well in explaining everything quickly and effectively. ]]> 2021-11-19 07:13:04 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522079 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522738 This website goes over the basic information on exchange rates so you can learn what it is. It also goes over how the rates work. This article tells you about forward rates which is what the predicted value of the currency will become. Predicted value can be influenced by shipping and exporting directly

I like this article because it explains what the different types of rates are such as forward, spot, floating and fixed rates are. I haven't seen this information listed in the other websites I have chosen either so I think it is useful.]]> 2021-11-19 07:13:34 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522738 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522972 This article explains how importing and exporting goods affect the exchange rates between countries and what makes the dollar value rise or sink. It also touches on how the rate affects you as a person living in that country. The higher the dollar value is for the citizens the better off and advanced the country is compared to others. It also can determine where is cheaper or more expensive to travel too if your looking to leave your current country

What I liked about this article is that it explained how the exchange rate affects the people of the country they reside in.]]> 2021-11-19 07:13:43 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901522972 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901523208 This article explains and goes over how the exchange rate will affect a person's business. If the business is importing goods or supplies from a country with a high exchange rate it might not be very effective at making a profit. if this is the case that businesses should look elsewhere to get the same product but at a different price.

I took away that businesses big or small use exchange rates very frequently. It helps them decide what to sell products at to get the most profit while not overcharging for a cheap product that no one will buy.]]> 2021-11-19 07:13:53 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901523208 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901525970 This article goes over the different types of markets you will deal with when buying, selling, or simply exchanging money into different currencies. It also goes over investments in foreign currency as well and what it all means with some benefits and repercussions.

I found this article it gave insight on how investing in foreign currency can make you a lot of money but also puts you at risk of loss. It also explained a little about what happens when you do invest in foreign currency.]]> 2021-11-19 07:14:59 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901525970 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901526419 I chose this image so you can visualize what a changing dollar value looks like over time. This graph compares the Canadian dollar to the US dollar]]> 2021-11-19 07:15:15 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901526419 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901526702 This picture shows what it is like to convert currency from one to another. This chart is helpful if you are doing forex so you can plan out what you would like to buy into.]]> 2021-11-19 07:15:21 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1901526702 stevenckelly13 https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1911829433 1) I learned that alot more than just countrys wealth is what makes up an exchange rate. Its primarily effected on supply and demand of countries.  I found that interesting to me as I did not know about this information

2) This topic is relavent to me because I use and deal with eBay quite frequently. So knowing when to buy something and when not to buy something from overseas will help me save some money and make money in the future.

3) I would pass on the information of knowing when and when not to buy something from another country. This will help them see they can get the same thing cheap from different areas of the world]]> 2021-11-25 04:15:31 UTC https://padlet.com/stevenckelly13/2blempcxb7iz7u24/wish/1911829433