Examlex
Spot Rate
The current price in the foreign exchange market at which one currency can be exchanged for another currency.
Closing Rate
The closing rate is the exchange rate of a foreign currency against a home currency at the close of the accounting period, used in translating foreign currency financial statements.
Forward Rate
The agreed-upon future exchange rate between two currencies in a forward contract.
Settlement Rate
The rate or price used to resolve the obligations between parties in a financial contract, often used in the context of derivatives and foreign exchange.
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