COURSE OF EXCHANGE
\kˈɔːs ɒv ɛkst͡ʃˈe͡ɪnd͡ʒ], \kˈɔːs ɒv ɛkstʃˈeɪndʒ], \k_ˈɔː_s ɒ_v ɛ_k_s_tʃ_ˈeɪ_n_dʒ]\
Definitions of COURSE OF EXCHANGE
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The current price between two places, which is above or below par, or at par. Exchange is at par when a bill in New York for the payment of one hundred pounds sterling in London can be purchased for one hundred pounds; if it can be purchased for less, exchange is under par; if the purchaser is obliged to give more, exchange is above par.
By Daniel Lyons
Word of the day
- relating to covered with or resembling freckles Freckled; speckled; bearing numerous small dots. Affected with lentigo.