The rupee rose by 3 paise to settle at 72.94 (provisional) against the US dollar on Monday, extending its gains for the fifth straight session despite heavy selling in domestic equity market. At the inter-bank Forex market, the rupee opened at 72.95 against the American currency and hit an intraday high of 72.89 and a low of 72.96 in day trade. It finally finished at 72.94, higher by 3 paise over its last close. On Friday, the rupee had settled at 72.97 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies advanced 0.10 percent to 90.32. The rupee has managed to hold its fort around the 72.90 to 73 levels, but given the sell-off in equities and the likelihood of a rebound in the dollar index, we see the trend tilting slightly towards depreciation going forward.

The price of one currency in terms of another is called :

Foreign Exchange Rate

The correct answer is option (4) : Foreign Exchange Rate

The foreign exchange rate, often referred to simply as the exchange rate, represents the price of one currency in terms of another currency. It indicates how much one unit of a given currency is worth in terms of another currency.

Here's a brief explanation of the options :

1. Fixed Exchange Rate: This term refers to an exchange rate system where the value of one currency is fixed or pegged to another currency or a commodity. It doesn't represent the general price of one currency in terms of another.

2. Foreign Exchange Market : This term refers to market place where currencies are bought and sold. It's where foreign exchange rates are determined through trading, but it doesn't represent the rate itself.

3. Flexible Exchange Rate : This term refers to an exchange rate system where the value of one currency is allowed to fluctuate based on market forces. It doesn't represent the rate itself but describes the system in which exchange rates operate.