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119, or equivalently that the price of a yen in relation to dollars is

119, or equivalently that the price of a yen in relation to dollars is $1/119.Exchange rates are determined in the foreign exchange market,[2] which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends, i.e. The spot exchange rate refers to the current exchange rate.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.In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, ER, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another.

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119, or equivalently that the price of a yen in relation to dollars is $1/119.

/119.

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