The correct answer would be option C, How much a currency is worth when it is exchanged with another country's currency.
An exchange Rate is How much a currency is worth when it is exchanged with another country's currency.
Explanation:
When one currency of a country is exchanged with the currency of another country, the rate at which the currencies are exchanged is called as the exchange rate.
For example if someone plans a trip to Europe from America, he has US dollars which he needs to exchange in Euros to be able to use the currency in Europe. So the rate at which he will exchange his Us dollars with Euro, will be the Foreign Exchange Rate.
Roughly, a Euro is equivalent to 1.08 US Dollars, as of today. So this 1.08 dollars will be the exchange rate for US dollars to Euro.
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