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Why does demand for foregin exchange arise of speculative activities ?

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Demand for foreign exchange arises when people want to speculate on the volue of foreign currecny. Speculators demand foreign currency in the present period with the aim of selling it in future at higher prices. For example, Manish purchaases `1,000 US $ at Rs. 70 per dollar with the expectation of selling the dollars at higher prices

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