Question: How is it that spot exchange rates are determined? Multiple Choice by predicting future currency movements and applying a factor to the current day's trade

How is it that spot exchange rates are determined?
Multiple Choice
by predicting future currency movements and applying a factor to the current day's trade
by the daily set rate posted by the International Monetary Fund
by taking the previous days' average of both currencies to be traded
by the interaction between the demand and supply of one currency relative to other currencies
How is it that spot exchange rates are determined? Multiple Choice

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