world currency rates today
Furthermore, the foreign exchange market is considered as one of the largest markets dominating in the world, and approximately about 3. 2 trillion USD of currency changes transactions takes place every day. Specific currencies become more valuable when demand for it is greater than its supply. On the other hand, it will become less valuable or in other words it will depreciate whenever demand becomes lower than its supply. Investors all over the world will probably choose to buy certain currencies only if the return on this particular currency is high. Therefore, the higher the countries interest rate, the greater will be the demand for that countries currency. We chose to compare the $U. S against the Turkish Lira as we know that turkey is a very strong country with a floating currency; that is, not fixed exchange rate. Turkey is well known and popular for exporting textiles and clothes all over the world and taking to consideration its past history at a stage in time it had ruled many parts of the world and so it was among the most powerful countries ruling most of the Arab countries. Therefore, we chose to select the Turkish Lira and compare it to exchange rates of the $U. S and analyze what events or factors have lead to the depreciation or the appreciation of the Turkish lira.
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world currency rates today