If 188 countries of the world issue their own currencies, Business Economics

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If 188 countries of the world issue their own currencies

If 188 countries of the world issue their own currencies, and all of these currencies are traded in free open foreign exchange markets, how many exchange rates are there in total? How many so-called fundamental exchange rates are there, where the term fundamental refers to the number of exchange rates that you need in order to determine all other exchange rates?

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Business Economics: If 188 countries of the world issue their own currencies

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