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Exchange Rates: fluctuation effects on an Economy 'Money Goes Far in New York, if You're European' (http://www.nytimes.com/2007/12/15/business/worldbusiness/15euro.html) An exchange rate is defined as the rate of exchange between two currencies; it indicates the value of one currency in relation to the other. For example, in this case, the US dollar has been valued at $2+ to the pound. A decrease in exchange rate of one country against another can be a result of either of the following; depreciation under a floating exchange rate scheme or devaluation under a fixed rate currency system. For most countries incorporated within the international economy, an alteration in exchange rate can have significant effects on aspects including inflation, unemployment and balance of trade. A customer travelling aboard to the US reported that her 'bags were so stuffed with Juicy Couture T-shirts, Guess watches and Croc sandals that her nieces would have to wear the Ugg boots she was...

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