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This reduces rounding issues and the need to use excessive numbers of decimal places.There are some exceptions to this rule: for example, the Japanese often quote their currency as the base to other currencies.The authors suggest a new hybrid neural network which is a combination of the standard RBF neural network, a genetic algorithm, and a moving average.
There are various ways to measure RER. Thus the real exchange rate is the exchange rate times the relative prices of a market basket of goods in the two countries.
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless.
Forex markets are among the most active markets in the world in terms of dollar volume.
The participants include large banks, multinational corporations, governments, and speculators.
This report provides exchange rate information under Section 613 of Public Law 87-195 dated September 4, 1961 ( (b)) which gives the Secretary of the Treasury sole authority to establish the exchange rates for all foreign currencies or credits reported by all agencies of the government. The rates provided in this report are not meant to be used by the general public for conducting foreign currency conversion transactions.