the.com/exchange rate
The price of a country's economy, quoted fresh every second, no returns.
means The value of one currency expressed in terms of another, determining how much of one you get for a unit of the other.
from Straightforward compound: 'exchange,' from Old French 'eschangier' (to trade one thing for another, ultimately from Latin 'ex-' plus 'cambiare,' meaning 'to change' or 'barter'), joined with 'rate,' from Latin 'rata' (as in 'pro rata,' a fixed proportion). The phrase itself is a product of modern finance, emerging as currencies became formally convertible against one another and traders needed a term for the going price of swapping one nation's money for another's.
- true driver
- interest rate gaps move it more than headlines
- biggest market
- forex trades $7.5 trillion daily, dwarfing stocks
- fixed vs floating
- some governments peg it, most let it drift
- hidden tax
- weak currency quietly makes imports cost more