The exchange rate is the interest rate that foreign banks receive when borrowing money from Canada.

Name: The exchange rate is the interest rate that foreign banks receive when borrowing money from Canada.
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Question

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The statement is false. The exchange rate refers to the value of a country's currency in relation to another country's currency. The interest rate that foreign banks receive when borrowing money from Canada is the Canadian interest rate.

The Exchange Rate Is the Interest Rate That Foreign Banks