Exchange Rate
/ˈɛksˌʧeɪnʤ reɪt/
Definitions
- (n.) The rate at which one currency may be exchanged for another, often regulated or relevant in international trade and financial law.
The contract specified the exchange rate to be applied for payments made in foreign currency.
Related terms
Commentary
In legal contexts, specifying an exchange rate in contracts helps manage currency risk and ensures clarity in cross-border transactions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.