Exchange rate
Exchange rate is a rate that specifies the number of units of a given currency that can be purchased for one unit of another currency.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Exchange rate. Specifies the number of units of a given currency that can be purchased for one unit of another currency.
According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),
- Exchange rate. The number of units of a given currency that can be purchased for one unit of another currency.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
