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Foreign exchange markets determine currency values from "summary" of International Economics by Robert Carbaugh
Foreign exchange markets are crucial in determining the value of currencies. These markets operate around the clock, allowing participants to buy and sell currencies based on various factors such as supply and demand, economic indicators, and geopolitical events. When demand for a currency increases, its value appreciates, while a decrease in demand leads to depreciation. The exchange rate between two currencies is determined by the interaction of buyers and sellers in the foreign exchange market. For instance, if there is high demand for the US dollar, its value will rise relative to other currencies. Conversely, if there is a surplus of a currency in the market, its value will ...
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