- Exchange rate | finance | Britannica. com
Exchange rate, the price of a country’s money in relation to another country’s money An exchange rate is “fixed” when countries use gold or another agreed-upon standard, and each currency is worth a specific measure of the metal or other standard An exchange rate is “floating” when supply and demand or speculation sets exchange rates (conversion units)
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You can change money in banks, but it is often more convenient to change currency in a casa de cambio (exchange bureau) These businesses are open longer hours than banks, usually do not have long line-ups as banks often do, and they offer comparable exchange rates (though banks may offer a slightly better rate)
- Exchange Rate | Definition of Exchange Rate by Merriam-Webster
Recent Examples on the Web But Russia’s central bank, which buys foreign currency for the finance ministry, said the resumed purchases will be gradual and modest in daily volumes to keep the ruble exchange rate stable — Anatoly Kurmanaev, WSJ, "Russia to Restart Foreign Exchange Reserves Buying," 11 Jan 2019 The daily exchange rate is set by the Chinese central bank and trades in a
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