Where and how are exchange rates determined?

If a currency is free-floating, its exchange rate is allowed to vary against that of other currencies and is determined by the market forces of supply and demand. Exchange rates for such currencies are likely to change almost constantly as quoted on financial markets, mainly by banks, around the world.

Currency prices can be determined in two main ways: a floating rate or a fixed rate. A floating rate is determined by the open market through supply and demand on global currency markets. ...обмен биткоин на приват

 5 Therefore, most exchange rates are not set but are determined by on-going trading activity in the world's currency markets