Definition: An exchange rate is the current market price for which one currency can be exchanged for another. If the U.S. exchange rate for the Canadian Dollar is $1.60, this means that 1 American Dollar can be exchanged for 1.6 Canadian dollars.
Terms related to Exchange Rates:
- Economics - A Beginner's Guide to Exchange Rates
- The Canadian Exchange Rate
- Exchange Rates: What to Use as the Base?
Books on Exchange Rates:
- Money, Exchange Rates, and Output
- The Economics of Exchange Rates
- Imperfect Knowledge Economics: Exchange Rates and Risk