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Introduce Entity verification
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Inflation is another major factor. High inflation erodes the purchasing power of a currency, which can weaken it. If inflation is higher in the Eurozone than in the US, the euro might depreciate against the dollar. Central banks often respond to high inflation by raising interest rates, which can then have a secondary effect on the exchange rate. They aim to keep inflation under control and maintain the currency's value. The inflation rate in a country can significantly affect the demand for its currency. It is a crucial factor for the exchange rate.
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Conclusion Entity verification
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