Determination of Exchange Rate
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...Determination of Exchange Rate History of Exchange Rates As d by Bagella et al (2006, p.1151), the choice of policiesof exchange rates was not so vexing sometimes back. In modern period, the selection of an exchange rate policy that suits a country is vital since though the selection of the policy is convenience based given application of international rules and regulations. Exchange rates policy dates back many years. As noted by Lau (n.d., p. 2), in 1867, the Trans-Atlantic cable was the only electronic link between Europe and North America. In this period, four fuzzy edges characterized the international monetary experience. The initial period was 1870 to 1914 where most countries adopted...