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Home→The Westburn Dictionary of Marketing→E→exchange rate

exchange rate

Definition:
The rate at which one currency can be exchanged for another. Under a fixed rate of exchange, for example the Gold Standard, the exchange rate will vary only between very narrow limits. If a currency has no parity then it is described as having a floating exchange rate which will vary from day to day.

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Joanna Kinsey and Michael J. Baker], [1998].