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What are money transfer exchange rates?

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Quick Answer

A money transfer exchange rate is the amount the currency of one country can be exchanged for in another country. In other words, it is the amount of one currency that can be bought using a given amount of a different currency.

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Full Answer

Exchange rates are generally given as a set of two numbers. The first represents an amount in the base currency, and the second is an equivalent amount in the exchange currency. For example, an exchange rate of USD $1 to JPY 110 means that every one United States dollar can be exchanged for 110 Japanese yen. Currency exchange rates change over time and are often different from day to day.

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