2.1. Differentiate between foreign exchange and the foreign exchange rate. Include an South African example for each of the terms to support your answer. (14) 2.2. Discuss the four main functions of foreign exchange markets for global businesses. Include an example for each function to support your answer. (12) 2.3. Given the weak position of the Rand, South African businesses exporting are experiencing favourable conditions and may result in more businesses expanding globally. Illustrate and outline the three stages of going global. Note: do not discuss the options for market entry modes. (16) 2.4. Consider a South African businesses expanding their operations internationally. List the tasks they need to fulfil in the strategic planning process before going global. Support your answer by providing an example

Source: (TradingEconomics, 2023)