Exchange rates

The exchange rate can be defined as the number of units of foreign currency that can be purchased with one unit of national currency.

It is determined by the market value of the various currencies on the international market. Many central banks publish the value of their currency on world markets, once a day and according to market quotations.

Precious metals are generally traded in US dollars. This means that exchange rates are of particular importance. For example, the price of gold in euros can fall, but if the exchange rate between the euro and the US dollar takes a different course, i.e. the dollar becomes more expensive and the dollar and euro converge in price, this can lead to the gold price in euros remaining the same or even becoming more expensive.