There may be various reasons for fluctuations in exchange rates but these are some of the major factors that usually affect the exchange rate or should I say the market value of a particular currency.
Inflation, Interest Rates, Crossborder trades, Political factors, and last but not the least Speculation. Yes thats right a mere speculation that a particular event may happen can cause the value of a currency to change. Government of a country may itself play a major role in changing the value of the currency. Its always better to be aware of the socio-political enviornment of the world if you want to make profits with forex.
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