Definition

Rate of Exchange

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Rate of Exchange is an amount of money a foreign currency holder receives in domestic currency for exchanging foreign currency in the domestic region and vice versa. The rate of exchange is dynamic and tend to change on a daily basis with respect to the change in the quoted currency. For example, if 1$ today equals 0.7USD, a change in USD (due to economic factors in the U.S.) could either decline or increase the quote, depending upon the increase and decrease in value, respectively.

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