General Awareness · Banking Financial Awareness

Currencies and Exchange Rates

1,480 Questions

Knowledge of global currencies and exchange rates is vital for general awareness sections in banking and civil service exams. Topics include identifying the official currencies of various countries and understanding digital currency types. Use this collection to quickly memorize international currency symbols.

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Currencies and Exchange Rates Questions

Multiple choice commerce nature and scope of foreign trade characteristics, necessity, importance, advantages and disadvantages of foreign trade importance, scope and benefits of international trade trading and economic organisations

The Dual Exchange Rate System was replaced by ___________.

  1. Exim Scrips

  2. EPCG licenses

  3. LERM

  4. Unified Exchange Rate System
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Dual Exchange Rate System, which had a partial convertibility of the rupee, was replaced by the Unified Exchange Rate System in 1993.

Multiple choice history the making of a global world causes of nazism feudalism in europe british exploitation of the indian economy

Which system was based on fixed exchange rate?

  1. Bretton wood system

  2. Political system

  3. Military system

  4. None of thses
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Bretton wood system was based on fixed exchange rates. In this system the national currencies were pegged to the dollar at a fixed exchange rate. The Bretton woods system inaugurated an era of unprecedented growth of trade and incomes for the western industrial nations.

Multiple choice social science prices and cost of living value and price utility, value and price price rise/inflation

__________ refers to the exchange value of a commodity expressed in terms of money.

  1. Value

  2. Utility

  3. Price

  4. Goods
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Price is the quantity of payment or compensation given to the opponent in return for goods or services. In modern economies, prices are generally expressed in units of some form of currency as exchange values.

Multiple choice geography ideas of development study of population in tamil nadu population and migration human geography in tamil nadu

Which of the following is the currency of Philippines, which is undergoing three year economic programme drawn up with I.M.F.?

  1. Peso

  2. Ngultram

  3. Rufiyaa

  4. France

  5. Pula
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Philippine peso
The Philippine peso (currency code: PHP) is the official currency of the Philippines. The colorful notes come in denominations of 10 (not common), 20, 50, 100, 200 (not common), 500, and 1,000. The peso is further divided into 100 centavos, however, you'll rarely deal with or encounter these fractional amounts.
Multiple choice geography the world after world war - ii basics of european union trade and trade organisations trade

How many of the 28 member states of the European Union use the Euro?

  1. 20

  2. 28

  3. 10

  4. 19
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The euro is the official currency of the European Union. Currently, 19 of 28 member states use the euro; this group of states is known as the eurozone. It is the second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents.

Multiple choice history south india - shatavahanas, kadambas and gangas the gangas/bahubali gomateshwara (350 a.d. to 1004 a.d.) the kadambas/mayuravarma (325 a.d. to 540 a.d.) satavahana

Currency of Eastern Gangas were called _______________.

  1. Rupee

  2. Fanamas

  3. Paisa

  4. Anna
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Eastern Ganga Dynasty are the rulers of Orissa from the 11th to the 15th centuries. The Eastern Gangas reigned from Kalinga and their rule consisted of the whole of the modern-day Indian state of Odisha. Currency of Eastern Gangas were called Fanamas.

Multiple choice geography economic activity people and resources utilisation of europe europe - peninsula of asia continents: europe

Euro Zone countries uses _________ currency.

  1. Dollor

  2. Euro

  3. Rupee

  4. Ponds
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Euro,

Although all EU countries are part of the Economic and Monetary Union (EMU), 19 of them have replaced their national currencies with the single currency – the euro. These EU countries form the euro area, also known as the eurozone.

Multiple choice business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

A change from $Rs.140 = 2$ pounds to $Rs. 60 = 1$ pounds indicates that Rs. is:

  1. Appreciating

  2. Depreciating

  3. Neither (a) nor (b)

  4. Either (a) or (b)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A change from RS 140 = 2 pounds to Rs 60 = 1 pounds indicates that rupees is appreciating. Appreciation of domestic currency is a situation of a fall in exchange rate. Less rupees are needed to buy one pound.

Multiple choice business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

Flexible exchange rate system is also known as __________. 

  1. pegged exchange rate system

  2. dirty floating

  3. floating exchange rate

  4. both B and C
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Flexible rate of exchange is the rate which is determined by the supply-demand forces in the foreign exchange market. It is also called 'free exchange rate' or 'floating exchange rate' as it is determined by the free play of supply and demand forces in the international money market.

Multiple choice business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

Under flexible exchange rate system, each country fixes its value of currency in terms of some external standard. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

This happens in case of fixed exchange rate system.
 Under Flexible exchange rate system, value of currency is determined by the market forces of demand and supply. 

Multiple choice business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

The value of US Dollar $ $1$ has gone down from $Rs. 67$ to $Rs. 65$. It means that ________________.

  1. Indian rupee has appreciated

  2. US Dollar has depreciated

  3. Both (a) and (b)

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Depreciation of US dollar will occur when Rs 65 have to be paid to exchange one US Dollar instead of Rs 67 per dollar as less rupees are needed to buy one dollar. Whereas, Indian rupee has appreciated as it is a situation of rise of foreign exchange rate.