"Exchange rate" is abbreviated as ExRate, also known as "foreign exchange rate", "foreign exchange market" or "exchange rate", etc. EXRATE is the abbreviation of "Exchange Rate" in English. It is the ratio of one currency to another currency, and it is the price of one currency expressed in another currency. Since the currencies of various countries (regions) in the world have different names and currency values, one currency must set an exchange rate for the currencies of other countries (or regions), that is, the exchange rate.
In the short term, the exchange rate of a country (or region) is determined by the demand and supply of the country's (or region's) currency in exchange for foreign currency. Foreigners buying domestic goods, investing in the country, and investing in the domestic currency affect the demand for the domestic currency. Domestic residents want to buy foreign products, invest in foreign countries, and foreign exchange speculation affect the country's money supply.
In the long run, the main factors that affect the exchange rate are: relative price levels, tariffs and quotas, preference for domestic goods relative to foreign goods, and productivity.
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