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French Equivalent: Taux de change

Exchange rates are the price of one country’s’ currency in relation to another.

Exchange rates are classified by IMF into three broad categories, reflecting the role of the authorities in the determination of the exchange rates and/or the multiplicity of exchange rates in a country:

- market rate: is used to describe exchange rates determined largely by market forces;

- official rate: is used to describe The exchange rate determined by authorities;

- for countries maintaining multiple exchange arrangements, the rates may be labelled principle rate, secondary rate, and tertiary rate.

Exchange rates may be expressed as period average rates or end of period rates.

(International Financial Statistics Yearbook, IMF, Washington D.C, 2000, Introduction, page ix).

Source Publication:
The Dictionary of International Business Terms, J.K. Shim, J.G. Siegel, M.H. Levine, Glenlake Publishing Co. Ltd., 1998.

Cross References:
Nominal effective exchange rate
Real effective exchange rates

Statistical Theme: Financial statistics - Exchange rates

Created on Tuesday, September 25, 2001

Last updated on Wednesday, January 04, 2006