There are two types of change in practice: nominal and real. Nominal change is the direct relation that exists between the currency of one country with the other. For example, to go to the Bank to change our money in a country you want to visit or vice versa.
The real change is that distinguishes the relationship between the goods and services of one country on the other, considering its impact on the economy of an individual or society.
There are also various systems change, understood as the set of rules that make up the central bank and market behavior. In a system, the fixed exchange rate, is the central bank who determines what is change that governs an economy. On the other hand, flexible or floating exchange rate, this is rid the game of supply and demand for the stock market.
Other concepts refer to particular situations of the economy, as the type of spot exchange, which relates to transactions that take place in cash or in current form. Either the type of future change or forward, indicating the price of a currency at present operations but with date of settlement in the future.
Because of a world market in permanent fluidity and evolution, the exchange rate is also in constant motion and why use instant conversion systems, for example, on the web, to have a parameter as accurate as possible at all times how much is worth one currency with respect to others.
Article contributed by the team of collaborators.