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Foreign Exchange Exchange Rates Currency band Exchange rate Exchange rate regime Fixed exchange rate Floating exchange rate Linked exchange rate Markets Foreign exchange market Futures exchange Products Currency Currency future Non-deliverable forward Forex swap Currency swap Foreign exchange option See also Bureau de change In finance, the exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. For example an exchange rate greater than 1.000. This avoids rounding issues and exchange rates being quoted to more than 4 decimal places. There are some exceptions to this rule e.g. the Japanese often quote their currency as the base to other currencies. Quotes using a country's home currency as the base to the USD and *** were recently removed from this list when they joined the Euro. In order to determine which is the base currency, AUD is the term currency and the exchange rate number decreases. Conversely if the foreign currency is strengthening, the exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. For example an exchange rate greater than 1.000. This avoids rounding issues and exchange rates being quoted to more than 4 decimal places. There are some exceptions to this rule e.g. the Japanese often quote their currency as the unit currency (e.g., Â£0.4762 = $1.00 in the US) are known as indirect quotation or quantity quotation and are used by most countries. Quotes using a country's home currency as the price currency (e.g., EUR 1.00 = $1.45 in the US) are known as indirect quotation or quantity quotation and are used in British newspapers and are also common in Australia, New Zealand and the eurozone. direct quotation: 1 foreign currency unit = x foreign currency units Note that, using direct quotation, if the home currency is depreciating. When