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exchange rate
Description Price in a given currency at which bills drawn in another currency may be bought (7).
For period average rates, the data are either the monthly average of market rates or of official rates of the reporting country, or, if those are not available, monthly average rates in New York, or, if those are not available, estimates derived on the basis of a simple average of the end-of-month market rates in the markets of the reporting country (5, Introduction, sect. 1).
Source Oxford University Press, The Concise Oxford Dictionary of Current English, Seventh Edition (1982) (London).
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