Exchange transactions between two currencies

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Reference no: EM131011139

Exchange transactions between two currencies, neither of which is the U.S. dollar, have to be made by changing one currency into dollars and then changing the dollars into the other currency. This procedure is necessary because the exchange tables are all set up to convert between other currencies and dollars, the world's leading currency. Are these statements true or false? Why? If false, how does the conversion work?

Reference no: EM131011139

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