What is the importance of exchange rates?

Write a paper that addresses the following issues:

What is the importance of exchange rates?
Who benefits and who loses when a country’s currency appreciates?
Who benefits and who loses when a country’s currency depreciates?
In the long run, what are the major factors that impact exchange rates?
Understanding central banks impact exchange rates, select three central banks and demonstrate/ explain how this occurs.
Include at least 3 professional references and follow APA formatting.