Why foreign currency/exchange is needed?

1.	Why foreign currency/exchange is needed?
Answer» (i) To purchase of goods and services from other countries. (ii) To send a gift abroad. (iii) To purchase financial assets in a particular country and (iv) To speculate on the value of foreign currencies.

Answer»

(i) To purchase of goods and services from other countries.

(ii) To send a gift abroad.

(iii) To purchase financial assets in a particular country and

(iv) To speculate on the value of foreign currencies.

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Why foreign currency/exchange is needed?

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