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rate of exchange


Definition
Rate at which one currency may be converted into another. Generally, one unit of the home currency is expressed in terms of another currency. For example, an American bank may quote the exchange rate between the dollar and the Yen as the number of dollars needed to buy one yen. also called exchange rate or foreign exchange rate or currency exchange rate.

Related Terms on BusinessDictionary

revaluation
currency swap
parity
foreign exchange contract

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