Based on the premise that other things equal countries would prefer a fixed exchange rate: Variable rates provide stability in international prices for the conduct of trade, True False QUESTION 10 00 The BOP must be in balance but the current account need not be True False QUESTION 11 Which of the following may be participants in the foreign exchange markets? Bank and non-bank foreign exchange dealers. Central banks and treasures o Speculators and arbitragers. All of the above