Meaning of the word "foreign exchange" in English
What does "foreign exchange" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
foreign exchange
US /ˈfɔːrɪn ɪksˈtʃeɪndʒ/
UK /ˈfɒrɪn ɪksˈtʃeɪndʒ/
Noun
1.
the money of other countries
Example:
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We need to exchange our dollars for foreign exchange before traveling to Europe.
•
The bank offers competitive rates for foreign exchange.
2.
the system by which the currency of one country is exchanged for that of another
Example:
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The global foreign exchange market operates 24 hours a day.
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Understanding the principles of foreign exchange is crucial for international trade.