Exchange rate

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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.

According to Principles of Economics by Timothy Taylor (3rd edition),

Exchange rate. The rate at which one currency exchanges for another.

Related concepts

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