economics
exchange rate
The value of one currency for the purpose of conversion to another.
Example
"The exchange rate between the dollar and euro affected the cost of her European vacation."
💡 Memory Tip
You EXCHANGE one currency for another at a RATE. The rate tells you how much you get.
Etymology
Exchange (to trade) + rate (a fixed price) — the fixed price at which currencies trade.
Common Misspellings
exchange reteexcange rateexchange ratexchnage rate
Related Terms
See Also
currency