Meaning of the word equivalence in English

What does equivalence mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

equivalence

US /ɪˈkwɪv.əl.əns/
UK /ɪˈkwɪv.əl.əns/

Noun

the state of being equal in value, amount, meaning, importance, etc.

Example:
There is no exact equivalence between the two currencies.
The mathematical equivalence of the two formulas was proven.