In the currency pair USD/INR = 67, what does '67' represent? Option: "The volatility of the USD/INR pair", "The amount of INR required to buy 1 USD", "The exchange rate of USD to INR", "The interest rate differential between USD and INR"

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In the currency pair USD/INR = 67, what does '67' represent?

"The volatility of the USD/INR pair"

"The amount of INR required to buy 1 USD"

"The exchange rate of USD to INR"

"The interest rate differential between USD and INR"

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What does it mean when the USD/INR exchange rate increases?

Both currencies strengthen simultaneously.

The US dollar strengthens against the Indian Rupee.

The Indian Rupee strengthens against the US dollar.

The US dollar weakens against the Indian Rupee.

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In what currency is the premium for USD INR options quoted?

EUR

INR

USD

JPY

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Compared to the Nifty 50 index, how is the volatility of the USD/INR currency pair characterized?

Similar

Slightly higher

Significantly higher

Lower

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What is the underlying asset for the EUR INR currency pair?

Rate of 100 Japanese Yen in Indian Rupees

None of the above

Spot rate of 1 GBP in Indian Rupees

Spot rate of 1 Euro in Indian Rupees

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How does the Reserve Bank of India (RBI) determine the USD/INR exchange rate?

By following the guidelines set by the International Monetary Fund.

By analyzing international currency markets.

By polling a select group of banks for their bid and ask quotes.

By using a complex algorithm based on economic indicators.