ECO152 Group assignmentBobby Quan3961521Exchange ratesThe exchange rates are constantly changing everywhere in the world. It will never remain constant. Exchange rates are used when a country importing goods into the country as well as exporting goods out of the country. An exchange rate is simple thevalue of one currency in terms of another currency. Depending on the supply or demand of foreign exchange it can either become more expensive or cheaper to exchange a currency for another. There are factors inside and outside of the country that could influence the exchange rates to either increase or decrease. The upcoming elections will change the rate of exchange for the rand depending on which political party is elected. The government debt has also played a major role in the exchange rates for South Africa. Since SA’s government has high debt the
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