FOREIGN EXCHANGE

foreign exchange. 1. The process of making international monetary transactions; esp., the conversion of one currency to that of a different country. 2. Foreign currency or negotiable instruments payable in foreign currency, such as traveler’s checks.[Blacks Law 8th]

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FOREIGN-EXCHANGE RATE

foreign-exchange rate.The rate at which the currency of one country is exchanged for the currency of another country.[Blacks Law 8th]

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