DEFINITION of 'Historical Currency Exchange Rates'
A collection of historical exchange rates that are used to provide traders with a historical reference to where a currency pair has traded in the past. Historical currency rates are used by many forex traders to help shed light on the direction of a given currency pair.
BREAKING DOWN 'Historical Currency Exchange Rates'
Historical data for currency exchange rates is a valuable tool for those looking to convert their currencies. Whether for speculative reasons, as in the case of the retail forex day trader, or for the converter looking for physical delivery, as in the case of a person who is about to go on vacation, knowing what rate you are getting today compared to currency exchange rates of the past is a valuable planning tool.
Many retail forex brokers provide this information for free, but others charge a nominal fee for this data. Be sure to do your own research before deciding where to get your historical currency exchange rate data.