|
|
Spot Exchange Rate
What Does Spot Exchange Rate Mean? The rate of a foreign-exchange contract for immediate delivery. Also known as "benchmark rates", "straightforward rates" or "outright rates", spot rates represent the price that a buyer expects to pay for a foreign currency in another currency.
Investopedia explains Spot Exchange Rate Though the spot exchange rate is said to be settled immediately, the globally accepted settlement cycle for foreign-exchange contracts is two days. Foreign-exchange contracts are therefore settled on the second day after the day the deal is made.
Rate this Term: Your Rating:
Overall Rating:
Vote Now!
|
CURRENT HIGH YIELD SAVINGS RATES
Rate data provided by
|