A given exchange rate will be more or less the same in all of the world's financial Markets because of

Question

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The given exchange rate will be more or less the same in all of the world's financial markets because of currency arbitrage. This refers to the practice of taking advantage of differences in exchange rates between different markets by buying a currency in one market where it's cheap and selling it in another where it's more expensive. Traders engaging in currency arbitrage help to ensure that exchange rates stay relatively consistent across different markets.

A Given Exchange Rate Will Be More or Less the Same