EXCHANGERATE
Exchange rate
In finance, an exchange rate 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 91 Japanese yen to the United States dollar means that ¥91 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥91. Exchange rates are determined in the foreign exchange market, which is open to a wide range of different types of buyers and sellers 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 ...The above text is a snippet from Wikipedia: Exchange rate
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exchange rate
Noun
- 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
- The rate at which one currency can be exchanged for another, usually expressed as the value of the one in terms of the other.
The above text is a snippet from Wiktionary: exchange rate
and as such is available under the Creative Commons Attribution/Share-Alike License.