Which statement explains why it is important to have a system of currency exchange?
O People like to collect different types of currency as a hobby.
It gives businesses a way to protect their earnings from thieves
O People use it every day when they make purchases at local stores.
Olt makes the trading of goods and services between countries possible.

The correct option is the D. System of currency exchange is important because it makes the trading of goods and services between countries possible.

What do mean by Exchange rate?

Exchange rates are the cost of one currency for another. Both fixed and fluctuating exchange rates are possible. In contrast to floating exchange rates, which are determined by market demand and supply, fixed exchange rates are set by a nation's central banks.

One of the main factors affecting a nation's relative degree of economic health is the currency exchange rate. A country's exports are more expensive in international markets than its imports because of the higher worth of its currency.

Learn more about the Exchange rate here:

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