Accounting Dictionary

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Exchange Rate

Definition: An exchange rate is the ratio at which two currencies are exchanged. The spot exchange rate is the exchange rate at which a currency can be delivered immediately. The closing rate is the spot exchange rate at the end of a reporting period.