rate of exchange
nounUK /ˌreɪt əv ɪksˈtʃeɪndʒ/
US /ˌreɪt əv ɪksˈtʃeɪndʒ/
The amount of one country's money you get when you trade it for another country's money.
Before our trip to Japan, we checked the rate of exchange to see how many yen we would get for our dollars.
RELATED WORDS
OTHER MEANINGS
2. The price at which one currency can be bought or sold for another.
The bank posted today's rate of exchange for euros and pounds.
3. The ratio used to compare the value of two different currencies.
A favorable rate of exchange made shopping abroad cheaper for tourists.
4. The official or market value assigned when converting money from one form to another.
The rate of exchange changed slightly after the central bank's announcement.