https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym Made with a curious mind By: FENY BHALGAMIYA 29TH Nov, 2020 en-us 2020-11-30 23:06:21 UTC 2020-12-01 01:45:21 UTC hello@padlet.com fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973760043 Welcome to my Padlet Wall. In this wall I would like to give you brief information on the topic EXCHANGE RATES. I will cover almost all topics including, What is Exchange Rate? What are different types of exchange rates? Why are they important? So, starting first with the introduction of Exchange Rate. Exchange Rate is the value of one nation's currency versus the currency of other nation or economic zone. Or in simple words we can say that the rate for exchanging one currency into other currency is called exchange rate.]]> 2020-11-30 23:09:24 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973760043 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973785227 The following posted image shows us the rates for buying and selling of different countries. For an example, USA has its fixed dollar amount for buying and selling rate as 1.76 and 1.35 respectively. on the same side Australia has its fixed rate of buying and selling its Australian dollars as 1.79 and 1.37 respectively]]> 2020-11-30 23:23:52 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973785227 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973803119 This image mainly reflects on the risks that can occur in foreign exchange rate. This image represents 3 types of risk (1) Transaction Risk (2) Translation Risk (3) Economic Risk. talking about them briefly we can see that transaction risk and translation risk are almost similar to each other while on the other hand economic risk is little different.]]> 2020-11-30 23:34:11 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973803119 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973815767 This Website clearly describes the services of Bank of Canada for the currency exchange rate which includes daily exchange rates, monthly exchange rates and annual exchange rates. It also has different functions for each topic to make people understand any topic quite easily. It also has its own piece of document which demonstrates different exchange rate of currencies between Canada and different other countries.]]> 2020-11-30 23:41:40 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973815767 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973844388 This website clearly describes the various types of exchange rates which are available in today's market. There are various types of exchange rates such as (1) Spot rate (2) Forward rate (3) Long rate (4) Fixed rate (5) Flexible rate and some other. After learning about these I got to know that exchange rates have different advantages as well as disadvantages.]]> 2020-11-30 23:58:45 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973844388 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973869330 This website describes the importance of the exchange rates in the market. It also shows the different buying and selling rate of different countries. Also I got to know the meaning of spread and mid-market rate from this website. Also it describes why these various types of exchange rates exist?]]> 2020-12-01 00:11:45 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973869330 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973918864 This website describes the factors that affect the exchange rate in the market. It explains the different reasons behind the changes in these rates and also how it affects the market. There are 8 leading factors affecting this which are Inflation rates, Interest rates, Balance of payments, Government Debt, Terms of Trade, Political Stability and Performance, Recession and Speculation.]]> 2020-12-01 00:35:12 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973918864 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973933525 1. The thing which I learned from this topic which surprised me the most that I got to know that there are so many types of exchange rates which I did not knew before.
2. If I talk about personal life experience, As I am an international student from India this exchange rate service helped me to convert the Indian currency to Canadian dollars.
3. If it comes to passing knowledge to a family member or friend about the exchange rate, I would recommend to check the website for the exchange rates and not believing on other agents which could protect them from the risk and scams to pay more than required.]]> 2020-12-01 00:41:57 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973933525 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973951042 This video describes that what are the effects that are caused by changing of the foreign exchange rates. It mainly focuses on two types of currency and how it works in the market: Functional currency and Presentation currency.]]> 2020-12-01 00:49:43 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973951042 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973972398 Video #2 easily and quickly explains how the process of exchange rate for currency works and can make people understand the concept very nicely. It also explains briefly how fixed exchanged ]]> 2020-12-01 00:59:31 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973972398 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973973407 This video explains what is actual meaning of exchange rate? it is always easy to understand through a video rather than any written description. I choose this video because it is made on a basis of animation which makes it more interesting to watch and also understand.]]> 2020-12-01 01:00:00 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973973407 fenyhasubhaibhalgamiya https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973974664 The following video demonstrates the advantages and disadvantages of floating exchange rates. Some of the advantages of floating exchange rate are no crisis, no inflation, proper management and flexibility and some of the disadvantages of floating exchange rate are lack of investment and discipline, and speculation.]]> 2020-12-01 01:00:29 UTC https://padlet.com/fenyhasubhaibhalgamiya/73lvnkqwqc8jlaym/wish/973974664