Major advantage of fixed exchange rate system


Please answer the following question:

Question 1: What is the major advantage of fixed exchange rate system?

Question 2: Why do you think countries have tried to establish various fixed exchange rate systems in the past?

Question 3: Why did they always fail?

Question 4: What is the major advantage of floating exchange rate system?

Note: Explain all steps comprehensively.

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Accounting Basics: Major advantage of fixed exchange rate system
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