Foreign exchange rate - Financial definition
Financial acronyms
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Concise definition of the term foreign exchange rate
A currency's foreign exchange rate is its price expressed in another currency.
Comprehensive definition of the term foreign exchange rate
A currency can be quoted in two different ways, either as a currency pair's base currency or as its price (or quote) currency.
The base currency is the currency which defines the unit in which the price is expressed and is located on the left side in a currency
pair's quote. In currency pair USD/[CCY00087S]JPY[CCY00087S] for example, USD is the base currency and JPY the price (or quote) currency.