The price at which
one country's currency can be exchanged for another.
The value of the exchange rate, like any other price, is determined
by the interaction of supply and demand in the foreign exchange market. Changes in the economic activity of any one country will affect
that country's exchange rate with all other currencies.
rates can be expressed in terms of foreign currency per U.S. dollars,
or in terms of U.S. dollars per unit of foreign exchange.
One expression is simply the reciprocal of the other.
Listed in the table below are selected foreign exchange rates.
Current rates are published daily in the Wall
Street Journal and are often posted in major financial institutions.
World Currency Yearbook.