Exchange rates

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4 Terms

1
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What is an exchange rate?

The value of one currency in terms of another (e.g. £1 = €1.15).

2
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What happens when the pound gets stronger?

Imports become cheaper, exports become more expensive.

3
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What happens when the pound weakens?

Exports become cheaper, imports become more expensive.

4
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How can a weak exchange rate benefit UK exporters?

A weaker pound means UK goods are cheaper for foreign buyers, potentially increasing demand for exports and boosting UK business revenues.