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WAEC Economics 2004 Question 30

Question 30

Balance of Payments and Exchange Rates

The market consisting of a network of dealers where currencies can be bought and sold is known as

  1. A.capital market
  2. B.foreign exchange market
  3. C.commodity market
  4. D.the stock market
Show the answer and explanation

Answer: B (foreign exchange market)

Explanation

Currencies are traded in the foreign exchange market.