In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro.

What is the meaning of forex rate?

In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, or 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.

What is forex and how does it work?

Forex trading is similar to buying and selling other types of securities, like stocks. ... When you make a forex trade, you sell one currency and buy another. You profit if the currency you buy moves up against the currency you sold.