Longman Dictionary of Contemporary English
Wiktionary
n. 1 (context economics finance English) The amount of one currency that a person or institution defines as equivalent to another when either buying or selling it at any particular moment 2 (context economics finance English) The rate at which one currency can be exchanged for another, usually expressed as the value of the one in terms of the other.
WordNet
n. the charge for exchanging currency of one country for currency of another [syn: rate of exchange]
Wikipedia
In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency. For example, an interbank exchange rate of 119 Japanese yen (JPY, ¥) to the United States dollar (US$) means that ¥119 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥119. In this case it is said that the price of a dollar in terms of yen is ¥119, or equivalently that the price of a yen in terms of dollars is $1/119.
Exchange rates are determined in the foreign exchange market, which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday. The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.
In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency. The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell that currency. The quoted rates will incorporate an allowance for a dealer's margin (or profit) in trading, or else the margin may be recovered in the form of a commission or in some other way. Different rates may also be quoted for cash (usually notes only), a documentary form (such as traveler's cheques) or electronically (such as a credit card purchase). The higher rate on documentary transactions has been justified as compensating for the additional time and cost of clearing the document. On the other hand, cash is available for resale immediately, but brings security, storage, and transportation costs, and the cost of tying up capital in a stock of banknotes (bills).
Usage examples of "exchange rate".
Were you thinking of paying the official exchange rate or the prevailing one?
He knows that, and he probably figures he can score at least a one-for-one exchange rate, despite the tonnage ratios.
If the intruder was planning to flee to Mexico, at the exchange rate in effect at the time, $118,000 would have yielded 1 million pesos.
An exchange rate in questions is agreed, as is a trust metric to grade the answers by.
But although the exchange rate had been overwhelmingly favorable to the Alliance, the reports of still more gunboats streaming in while the ships Third Fleet had pursued from Bug-06 halted their flight and turned to come back at Third Fleet in company with the fresh gunboat threat promised that that could change.