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Exchange rates

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Exchange rates

Hello everyone,

Could you, please, tell me in a particular case when one country e.g. Slovakia has the following exchange Rate - 1 USD = 22.22 SKK and it is shown by the central Bank of Slovakia as for the American central bank, it shows that 1 SKK = 0.04299 USD in other words 1 USD = 23.26 SKK (1USD/0.04299USD). Why is there any difference in exchange? Why 1 USD costs different amount of SKK, in this case 22.22 SKK and 23.26 SKK, On what does it Depand?

Thank you in advance.

January 27th 2017 AN ACCA USER 600 Points

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