A sudden sharp increase in the demand for the German mark almost destroyed the Exchange Rate Mechanism
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Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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The demand for the mark in 1992 increased its value An increase in the value of the mark is equivale...View the full answer
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