Concept:The value of one currency expressed in terms of another country's currency is called the exchange rate.
Explanation:When a country buys goods or services from another country, it needs to pay in that country's currency.
The rate at which one currency is exchanged for another currency is known as the exchange rate.
For example, if
1 US dollar can be exchanged for
N75, then the exchange rate between the US dollar and the Nigerian naira is
75.
Among the given options, terms of trade, bank rate, and terms of payment refer to different economic concepts.
Therefore, the correct answer is exchange rate.
Answer:B. exchange rate