Exchange Rate (Noun)
Meaning
The charge for exchanging currency of one country for currency of another.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The exchange rate between the US dollar and the euro fluctuates constantly due to market forces.
- Tourists often get a poor exchange rate at airports and hotels, so it's better to exchange money at a bank.
- The exchange rate for converting British pounds to Australian dollars was favorable, so we decided to travel to Australia.
- The company's profits were affected by the unfavorable exchange rate when they converted their earnings from yen to dollars.
- Before traveling abroad, it's a good idea to check the current exchange rate to get an idea of how much your money is worth.