Exchange rates state the value of one currency in terms of other currencies. Which one of the following statements with respect to the exchange rate of currency is correct ?

• A. Floating exchange rates are rates in which the Governments interfere by buying or selling their currencies
• B. Fixed exchange rates are rates set by Government decisions and Maintained by Government actions.
• C. Under the Bretton Woods System, the exchange rates are floated in terms of rise or fall in price of gold.
• D. Under the classical gold standard, the exchange rates are fixed in terms of price of dollar.