In finance, the exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. For example an exchange rate of 120 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 120 is worth the same as USD 1. The foreign exchange market is one of the largest markets in the world. By some estimates, about 2 trillion USD worth of currency changes hands every day.

The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.

Quotations

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An exchange rate quotation is given by stating the number of units of a price currency that can be bought in terms of 1 unit currency. For example, in a quotation that says the EUR-USD exchange rate is 1.2 USD per EUR, the price currency is USD and the unit currency is EUR.

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@Kittydiablo That's really not bad for that price. Assuming my rough mental currency conversion is near accurate.
StygianChains (Curtis Scott) Sat, 12 Dec 2009 00:45:39 -0000
@Kittydiablo That's really not bad for that price. Assuming my rough mental currency conversion is near accurate.
@mettadore I frequently use the currency exchange, weather, translator and conversion tools. I'm sure there are others that use it better.
zacparker (Zac Parker) Fri, 11 Dec 2009 23:45:57 -0000
@mettadore I frequently use the currency exchange, weather, translator and conversion tools. I'm sure there are others that use it better.
In Covington Kentucky. Playing the Mad Hatter tonight!! Oil change and morning currency conversion.
endlesshallway (ENDLESS HALLWAY) Fri, 11 Dec 2009 18:02:05 -0000
In Covington Kentucky. Playing the Mad Hatter tonight!! Oil change and morning currency conversion.
@technosailor naw, it's fine. Also way cheaper cause I'll get the custom work done in US, so currency conversion = customs charges. Easypie.
jeremywright (Jeremy Wright) Fri, 11 Dec 2009 15:22:03 -0000
@technosailor naw, it's fine. Also way cheaper cause I'll get the custom work done in US, so currency conversion = customs charges. Easypie.
Anyone know what the PayPal rake is when you use their currency conversion vs your card provider's?
ashleymoran (Ashley Moran) Fri, 11 Dec 2009 14:59:10 -0000
Anyone know what the PayPal rake is when you use their currency conversion vs your card provider's?
@Otto079 Paypal charges less for currency conversion than my credit card, so I prefer to use Paypal for international transactions.
outoutout (TG) Fri, 11 Dec 2009 13:48:15 -0000
@Otto079 Paypal charges less for currency conversion than my credit card, so I prefer to use Paypal for international transactions.

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