What is the exact value of iota?

Could you please explain, in detail, what the precise value of iota actually signifies? Is it determined by market forces or does it have a fixed rate? Also, how does it compare to other cryptocurrencies in terms of valuation? Additionally, could you discuss any factors that might influence its value, such as news announcements or technological advancements? Finally, what are the potential risks associated with investing in iota, and how can investors mitigate these risks?