EXCHANGE RATE Definition & Meaning

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exchange rate

the ratio at which a unit of the currency of one country can be exchanged for that of another country.

exchange rate

the rate at which the currency unit of one country may be exchanged for that of another

exchange rate

The price at which one currency can be purchased with another currency or gold. At any time, for example, one U.S. dollar can purchase a certain number of EU euros or Japanese yen.

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First recorded in 1895–1900

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One way is via the value of the pound and exchange rates, which dictate the cost to UK businesses importing goods and raw materials from abroad.

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Just three years ago, the exchange rate of the local currency was 500 naira to £1; now it stands at 2,200 naira.

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Their Western accents dip in and out of Pidgin, their wallets are boosted by the exchange rate, and their presence fuels the economy.

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What also helped was a stable exchange rate between the Chinese yuan and the US dollar.

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This has been worth somewhere between $1,700 and $2,700 over the past couple of years - the unofficial exchange rate has fluctuated since the coup.

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