International currency exchange rate,
Definition of International currency exchange rate:
An international currency exchange rate is the rate at which two currencies can be exchanged. International currency exchange rates display how much of one unit of a currency can be exchanged for another currency.
The international currency exchange rate is the amount of money in one currency that can be received for one unit of another currency. For example, USD/JPY 113.54 means that an individual or business will receive 113.54 Japanese yen (JPY) for every US dollar (USD). Put another way, one USD buys 113.54 yen.
The value of one currency compared to another and the rate at which they are exchanged. Some currency rates are floating and consistently change according to a number of factors. Other currency rates are pegged, which means they are tied to certain currencies.
Meaning of International currency exchange rate & International currency exchange rate Definition