Currencies and Exchange Rates

Which statements accurately describe a country's currency? Select all that apply.

-The currency is easily divisible. -The currency has a value that can change. -The currency has denominations.

A currency shared by several countries in Europe is the

Euro

What is an example of a country that makes use of another nation's currency?

Panama

Who decides which currency each country in the world uses?

each individual country

In this table, the reference currency is the

euro.

Each currency has a changing value relative to other currencies. This is referred to as a currency's

exchange rate

By devaluating the bolivar, the president of Venezuela has

increased the number of bolivars needed to buy one dollar.

If you lived in Great Britain and wanted to buy one euro, how much would it cost?

less than a pound

For the time period shown, the value of the US dollar was generally

rising against the Canadian dollar.

Which factor plays a role in establishing the value of a country's currency?

supply and demand