exchange-rate

Vocabulary Word

Definition

'Exchange rate' is a term used to describe the rate at which one country's money, called its currency, can be traded for the money of another country.

Examples in Different Contexts

In finance, the 'exchange rate' is the price at which one currency can be converted to another. A financial analyst might state, 'Fluctuations in the exchange rate can significantly impact international investments and trade.'

Practice Scenarios

Tech

Scenario:

We need to offer comprehensive financial data to our users. How about integrating cryptocurrencies with our existing currencies?

Response:

'Including Bitcoin and other major cryptocurrencies with the live exchange rate would definitely enhance our app's features.

Travel

Scenario:

We should offer comprehensive coverage on how to travel on a budget, keeping in mind the current global scenario.

Response:

Yes, considering the exchange rate has now become crucial while planning a budget trip abroad.