Exchange rate meaning in English
Learn how to use Exchange rate correctly with Gymglish.
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Definition
an exchange rate: the difference in value when changing money from one currency to another
Examples
- "With that, and the current exchange rate, I could afford to buy the flat of my dreams outright."
- "Philip : What is the exact exchange rate?"
- "The market has been driven by an exchange rate that has risen above two dollars to the British pound for the first time since the early 1980s."
- "The market has been driven by an exchange rate that has risen above two dollars to the pound for the first time since the early 1980s."
Exercise 1
Complete the sentences below with the appropriate terms!
It's a good idea to visit a bank or post office to your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of .
The is currently 1 American Dollar to 1.1 Australian Dollars.
A is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to it.
It's a good idea to visit a bank or post office to your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of .
The is currently 1 American Dollar to 1.1 Australian Dollars.
A is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to it.
Complete the sentences below with the appropriate terms!
It's a good idea to visit a bank or post office to exchange 1 your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of currencies 2.
The exchange rate 3 is currently 1 American Dollar to 1.1 Australian Dollars.
A transaction fee 4 is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to swap 5 it.
It's a good idea to visit a bank or post office to exchange 1 your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of currencies 2.
The exchange rate 3 is currently 1 American Dollar to 1.1 Australian Dollars.
A transaction fee 4 is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to swap 5 it.
1 exchange: "Exchange" is the correct choice here. To "exchange money" is to "swap", "switch", or "trade" it. In this context, we "exchange" one type of money for another. Example: "I exchanged $100 for £2. I don't think that was a very good deal". You can exchange money at a "bureau de change" (UK) or a "currency exchange" (US).
1 give: If you're going on holiday, you don't want to give all your money to anyone (especially not a bank) before you leave!
1 spend: If you're going on holiday, you don't want to give all your money to anyone (especially not a bank) before you leave!
2 currencies: "Currencies" is the best term here. A "currency" is a type of money, such as the Dollar, the Yen, the Euro, etc. In the dialogue, two currencies are discussed: the Australian Dollar and the American Dollar. Interestingly, the word "Dollar" is derived from the Low German term "daler".
2 exchange rates: An "exchange rate" is the difference in value between two currencies. This is not the right answer here.
2 transaction fees: "Transaction fees" are charges incurred when you perform an operation, for example at a bank. This is not the right answer here.
3 exchange rate: This is the correct answer. An "exchange rate" is the value of a currency when compared to another currency. For example: "I'm going to change my Euros to Dollars today, because the exchange rate is very favourable".
3 transaction fee: A "transaction fee" is a charge incurred when you perform an operation, for example at a bank. This is not the right answer here.
3 currency: A "currency" is a type of money: Pounds, Dollars, Yen, Euros, etc. This is not the right answer here.
4 transaction fee: "Transaction fee" is the right answer. Banks often charge you a "transaction fee" when you transfer money from one account to another. In the dialogue, the Australian woman charges Philip a "transaction fee" for giving him American Dollars and taking Australian Dollars from him. She's a shrewd businesswoman!
4 currency: A "currency" is a type of money: Pounds, Dollars, Yen, Euros, etc. This is not the right answer here.
4 exchange rate: An "exchange rate" is the difference in value between two currencies. This is not the right answer here.
5 swap: "Swap" is the best choice here. To "trade" one thing for another is to "swap", "switch", or "exchange" it. In the dialogue, the characters discuss "trading some money". Here's another example: "I'll trade my apple for your orange. I don't like apples, but I love oranges".
5 guess: To "guess" is to "estimate" or "imagine" a possible answer. This is not the right answer.
5 suit: The verb "to suit (someone)" is to be appropriate or convenient for them. This is not the right answer.
Exercise 2
Complete the sentences below with the appropriate terms!
It's a good idea to visit a bank or post office to your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of .
The is currently 1 American Dollar to 1.1 Australian Dollars.
A is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to it.
It's a good idea to visit a bank or post office to your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of .
The is currently 1 American Dollar to 1.1 Australian Dollars.
A is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to it.
Complete the sentences below with the appropriate terms!
It's a good idea to visit a bank or post office to exchange 1 your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of currencies 2.
The exchange rate 3 is currently 1 American Dollar to 1.1 Australian Dollars.
A transaction fee 4 is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to swap 5 it.
It's a good idea to visit a bank or post office to exchange 1 your money before visiting a foreign country.
Pounds Sterling, Australian Dollars, and Japanese Yen are all examples of currencies 2.
The exchange rate 3 is currently 1 American Dollar to 1.1 Australian Dollars.
A transaction fee 4 is a charge incurred when you do a financial operation, for example at a bank.
To trade one thing for another is to swap 5 it.
1 exchange: "Exchange" is the correct choice here. To "exchange money" is to "swap", "switch", or "trade" it. In this context, we "exchange" one type of money for another. Example: "I exchanged $100 for £2. I don't think that was a very good deal". You can exchange money at a "bureau de change" (UK) or a "currency exchange" (US).
1 give: If you're going on holiday, you don't want to give all your money to anyone (especially not a bank) before you leave!
1 spend: If you're going on holiday, you don't want to give all your money to anyone (especially not a bank) before you leave!
2 currencies: "Currencies" is the best term here. A "currency" is a type of money, such as the Dollar, the Yen, the Euro, etc. In the dialogue, two currencies are discussed: the Australian Dollar and the American Dollar. Interestingly, the word "Dollar" is derived from the Low German term "daler".
2 exchange rates: An "exchange rate" is the difference in value between two currencies. This is not the right answer here.
2 transaction fees: "Transaction fees" are charges incurred when you perform an operation, for example at a bank. This is not the right answer here.
3 exchange rate: This is the correct answer. An "exchange rate" is the value of a currency when compared to another currency. For example: "I'm going to change my Euros to Dollars today, because the exchange rate is very favourable".
3 transaction fee: A "transaction fee" is a charge incurred when you perform an operation, for example at a bank. This is not the right answer here.
3 currency: A "currency" is a type of money: Pounds, Dollars, Yen, Euros, etc. This is not the right answer here.
4 transaction fee: "Transaction fee" is the right answer. Banks often charge you a "transaction fee" when you transfer money from one account to another. In the dialogue, the Australian woman charges Philip a "transaction fee" for giving him American Dollars and taking Australian Dollars from him. She's a shrewd businesswoman!
4 currency: A "currency" is a type of money: Pounds, Dollars, Yen, Euros, etc. This is not the right answer here.
4 exchange rate: An "exchange rate" is the difference in value between two currencies. This is not the right answer here.
5 swap: "Swap" is the best choice here. To "trade" one thing for another is to "swap", "switch", or "exchange" it. In the dialogue, the characters discuss "trading some money". Here's another example: "I'll trade my apple for your orange. I don't like apples, but I love oranges".
5 guess: To "guess" is to "estimate" or "imagine" a possible answer. This is not the right answer.
5 suit: The verb "to suit (someone)" is to be appropriate or convenient for them. This is not the right answer.
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