A Hitchhiker’s Guide to Understanding Exchange Rates
Each day, more than $1.2 trillion worth of foreign exchange changes hands around the globe, an amount that far exceeds the daily value of world trade. Approximately 83 percent of these transactions involve U.S. dollars, but not all involve U.S. citizens.
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Suggested Citation
Humpage, Owen F. 1998. “A Hitchhiker’s Guide to Understanding Exchange Rates.” Federal Reserve Bank of Cleveland, Economic Commentary 1/1/1998. https://doi.org/10.26509/frbc-ec-19980101
This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International
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