A currency exchange rate is the price that one nation's currency costs in another nation's currency that week; the amount that a given currency can be exchanged for in another currency, according the United States Federal Reserve and Investopedia. The value of one U.S. dollar in exchange for foreign currency fluctuates daily and also depends on the other country's exchange rate, so it is not possible to know weekly currency exchange rates .Continue Reading
To find the current exchange rate of global currency, visit The Federal Reserve System website. The value of all currencies is determined by the world market, which in turn is affected by many factors that determine why a currency may be worth more one day than another, as noted by the U.S. Federal Reserve.
There are different rates for buying and selling money. The rate to buy money is the going price for a given currency, while selling is determined by the sell price. The real exchange rate is the equivalent value of a currency in relationship to another currency at the going exchange price. RER is determined by what it costs to buy a certain amount of goods in another country.
Money becomes more valuable when there is higher demand for it; if there is higher demand than what can be supplied, the value goes up. Similarly, if there is a lot available on the market, the value goes down. In some cases, more money on the market can indicate investors are buying other currencies, which affects the exchange rates.Learn more about Currency & Conversions