Q:

How do you check today's foreign exchange rates?

A:

Quick Answer

With up to $1 trillion in trade daily, currency exchange rates are tracked by the minute on specialty sites, and updated frequently elsewhere. Many business and finance-oriented websites post currency exchange rates including Bloomberg.com, Money.CNN.com and Finance.Yahoo.com.

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Full Answer

Investment brokers such as FXCM also post currency exchange rates alongside market-related news and information. Exchange rates are expressed as a ratio of currency denominations denoted by a symbol. For example, at 10:57:55 EST June 22, 2015, Bloomberg showed USDJPY trading at 123.22. The symbol, USDJPY, indicates the relationship between US dollars and Japanese yen. The price, 123.22, indicates how many yen are required to buy one dollar. This price excludes brokerage fees and other premiums.

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