Home > Term: rate of exchange
rate of exchange
The rate of currency exchange established daily as the buying rate of foreign currency by the Federal Reserve Bank. The daily rate is used only when it varies by more than 5 per cent from the quarterly rate. When applicable, the daily rate is the rate certified on the day of exportation.
- Part of Speech: noun
- Industry/Domain: Convention
- Category: Conferences
- Company: CIC
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