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Exchange Rates Top Facts

Exchange rate
In finance, an exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency. For example, an interbank exchange rate of 91 Japanese yen (JPY, ¥) to the United States dollar (US$) means that ¥91 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥91.
Exchange rateForeign exchange marketInternational tradeEconomics terminologyCurrencyInternational economicsMacroeconomics

Iranian rial
The rial is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting. The name derives from the Spanish Real, which was for several centuries, the currency in Spain (derived from Spanish rey = king). Although the "toman" is no longer an official unit of Iranian currency, Iranians commonly express amounts of money and prices of goods in "tomans. " For this purpose, one "toman" equals 10 rials.
Iranian rial1932 introductionsEconomy of Iran1798 introductions

Spot contract
In finance, a spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. The settlement price (or rate) is called spot price (or spot rate). A spot contract is in contrast with a forward contract or futures contract where contract terms are agreed now but delivery and payment will occur at a future date.
Spot contractFinancial marketsSecurities

Fixed exchange-rate system
A fixed exchange-rate system (also known as pegged exchange rate system) is a currency system in which governments try to keep the value of their currencies constant against one another. In a fixed exchange-rate system, a country’s government decides the worth of its currency in terms of either a fixed weight of gold, a fixed amount of another currency or a basket of other currencies. The central bank of a country remains committed at all times to buy and sell its currency at a fixed price.
Fixed exchange-rate systemGold standardEconomics

Exchange rates

Exchange rates

Historical exchange rates of Argentine currency
The following table contains the monthly historical exchange rate of the different currencies of Argentina, expressed in Argentine currency units per United States dollar.
Historical exchange rates of Argentine currencyEconomic history of Argentina

International status and usage of the euro
]] The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and they replaced minor currencies tied to the pre-euro currencies such as in Monaco. Three small states have been given a formal right to use the euro, and to mint their own coins, but all other usage has been unofficial outside the eurozone (the EU states who have adopted the euro).
International status and usage of the euroEconomy of the European UnionEurozone fiscal mattersMonetary hegemony

Tables of historical exchange rates to the United States dollar
Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world. An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.
Tables of historical exchange rates to the United States dollarCurrencyInternational tradeSociety-related listsDollar

Exchange-rate flexibility
A flexible exchange-rate system is a monetary system that allows the exchange rate to be determined by supply and demand. Every currency area must decide what type of exchange rate arrangement to maintain. Between permanently fixed and completely flexible however, are heterogeneous approaches. They have different implications for the extent to which national authorities participate in foreign exchange markets.
Exchange-rate flexibilityEconomics terminologyForeign exchange market

Forward exchange rate
The forward exchange rate (also referred to as forward rate or forward price) is the rate at which a bank is willing to exchange one currency for another at some specified future date. The forward exchange rate is a type of forward price. It is the exchange rate negotiated today between a bank and a client upon entering into a forward contract agreeing to buy or sell some amount of foreign currency at a future date.
Forward exchange rateFinancial terminologyFinancial economicsInternational financeForeign exchange market

Trade weighted index
The Trade Weighted Index, also known as the effective exchange rate, is a multilateral exchange rate which is a weighted average of exchange rates of home and foreign currencies, with the weight for each foreign country equal to its share in trade. It measures the average price of a home good relative to the average price of goods of trading partners, using the share of trade with each country as the weight for that country.
Trade weighted indexIndex numbersInternational economicsEconomic indicatorsForeign exchange market