The foreign exchange rate is Select one: a. the relative value between one currency and another b. the rate at-which countries do business c. the relative value between the dollar and foreign currencies d. the relative value of last year's currency to this year's

To determine the correct answer regarding the foreign exchange rate, let's analyze each option: a. **the relative value between one currency and another** - This is a correct definition of the foreign exchange rate, as it represents how much one currency is worth in terms of another currency. b. **the rate at which countries do business** - This is not specifically about the foreign exchange rate; it refers more to trade agreements or business transactions. c. **the relative value between the dollar and foreign currencies** - This is also a correct statement, but it is more specific to the U.S. dollar. The foreign exchange rate can apply to any currency pair, not just the dollar. d. **the relative value of last year's currency to this year's** - This does not accurately describe the foreign exchange rate, as it does not focus on the exchange between two different currencies. Based on this analysis, the best answer is: **a. the relative value between one currency and another**.