What is exchange rate?

In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro.

Exchange rate is the rate at which one currency will be exchanged at for another currency. Most countries have their own national currency. However, some currency are sub-national such as Hong Kong; some are supra-national such as the euro.