Exchange Rate

Exchange Rate = Exchange Rate

Simplified Definition:
An exchange rate is the "price" at which currencies are exchanged. Its changes affect the cost of imports and travel, and sometimes the prices of everyday goods that contain imported components.

What does it mean for you?

Travel costs or purchases from external sites may increase if the foreign currency strengthens.
Prices of some imported products or spare parts may rise when import costs change.
Frequently Asked Question:
Does exchange rate change affect everything?
Answer:
No. The impact is greater on goods and services linked to imports and travel, and less on purely local services.