Question: What is an exchange rate? What is the difference between a free - floating exchange rate regime and a fixed or pegged exchange rate? How

What is an exchange rate? What is the difference between a free-floating exchange rate regime and a fixed or pegged exchange rate? How can exchange rate appreciation or depreciation impact international trade?
Using oanda.com, find an example of an exchange rate to the U.S. Dollar (direct or indirect). What is the current exchange rate? Is the foreign currency stronger or weaker than the U.S. Dollar?

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