Q:

What is a live currency exchange rate?

A:

Quick Answer

A live currency exchange rate is the up-to-the-minute price of one nation's currency in terms of another nation's currency. Currencies are traded on the foreign exchange market, or FOREX market.

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Full Answer

Live currency exchange rates can be found organized into charts on a number of websites and are instantly updated to display statistics such as purchase price, sales price, team points and rollover. Most charts are segmented into categories by country and location to help users locate the rate for which they are searching. Currencies are generally compared to the U.S. dollar or another major market force. Cross currency, or cross rate, occurs when neither currency is domestic to the exchange.

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