Rate of exchange

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RATE OF EXCHANGE. Among merchants, by rate of exchange is understood the price at which a bill drawn in one country upon another, may be sold in the former.

References in periodicals archive ?
2% higher than in the same period last year, at fixed rates of exchange.
At constant rates of exchange sales improved 9% to US $13,893 million over the corresponding quarter last year.
For comparison purposes the trends have also been shown on page 5 based on constant average rates of exchange for 1994.
Sales in the third quarter, expressed at constant rates of exchange, rose by 6% to US $12,487 million and operating profit improved by 9% to US $1,274 million.