noun · neutral
exchange rate
/ɪksˈtʃeɪndʒ reɪt/ex·CHANGE · RATE
the value of one currency compared to another, used to convert money between countries
Examples
“Before you change dollars to euros, check the current exchange rate.”
“The exchange rate rose, so I got fewer foreign notes for my cash.”
“Tourists always look for places with a favourable exchange rate.”
Band 8 sentence
“Before I travel abroad I always check the exchange rate so I know roughly how much things will cost and whether to change money now or later.”
Collocations
- current exchange rate
- favourable exchange rate
- fixed exchange rate
Word family
Common mistakes
change rate→exchange rate
currency exchange rate (as a fixed phrase when context needs 'the exchange rate')→the exchange rate
Say it for a higher band
5money rate→6currency rate→7+exchange rate
Synonyms
currency rate
conversion rate
Easily confused
interest rate
“The interest rate on my loan is 3%.”
conversion rate
“The website's conversion rate improved after the redesign.”
Related words
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In Shopping & Money
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