The correct answer is “exchange rate.” Each currency has a changing value relative to other currencies. This is referred to as the currency’s exchange rate. The exchange rate is a term in finances that means that every currency has value.

Answer Expert Verified For this table, the reference currency is the Euro. The exchange rate of the euro to the US dollar and most other currencies is determined by supply and demand. Most countries have a flexible exchange rate.

Panama

Flexible exchange rates between currencies are determined by a foreign exchange market, or “forex” for short. These markets regulate the prices by which investors are purchasing one currency with another, with the hopes of making more money when that nation’s money gains strength.

Kuwaiti Dinar

If you’re buying gold as an investment, the most popular purchase is 24k gold, which is 100% gold without any additional alloys. Since it’s 100% gold, with $1000 you’d be able to purchase 1000/2000 (1/2) of an ounce of gold, or 15.55 grams of gold.

There are gold coins, bars and a variety of other options, all with the same price per ounce value. To convert your cash to gold, you need to deposit the cash into a bank account and purchase the gold with your checking account.

The United States dollar is not backed by gold or any other precious metal.