1. Exchange Rate Types

Floating Rates – Most major currencies (USD, EUR, JPY) have rates determined by the foreign exchange (Forex) market based on supply and demand.
Fixed Rates – Some countries, like China, peg their currency to another, such as the USD, meaning the government controls the rate.
Pegged Rates – A mix of both, where a currency is tied to another but can fluctuate within a range.

2. What Affects Exchange Rates?

Interest Rates – Higher interest rates attract foreign investments, increasing demand for the currency.
Inflation – Lower inflation strengthens a currency, while high inflation weakens it.
Economic Stability – Strong economies have stronger currencies since investors see them as safer.
Supply & Demand – If many people want a currency, its value rises; if fewer people want it, the value drops.
Geopolitical Events – Wars, elections, or crises can impact investor confidence and change rates.

Banks – Safe but may have fees.
Currency Exchange Offices – Often have better rates but may charge commissions.
ATMs – Convenient but may have high withdrawal fees.
Online Forex Platforms – Used for large trades or investments.

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