rate of exchange

Definition

Forex

  • The value of one unit of a base currency expressed in terms of units of a counter currency. In the forex market, traders speculate on what the future rate of exchange for a currency pair will be. The six major exchange rates are: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD and NZD/USD. also called exchange rate, currency exchange rate, forex rate or foreign exchange rate.
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