What Is Exchange Rate
Exchange rates affect everything from the price of your morning coffee to the cost of a hotel abroad. But what exactly is an exchange rate? Definition An exchange rate is the value of one currency expressed in terms of another currency. It tells you how much of currency B you need to buy one unit of currency A. For example, if the USD/EUR exchange rate is 0.92, that means 1 US dollar buys 0.92 euros. ...