You check the Yahoo.com currency web page and find that the Japanese yen is trading at a rate of
113 yen per dollar. This rate of exchange is typically referred to as the ________.

Question

Quizplus · Accepted Answer

The spot rate refers to the current exchange rate at which one currency can be exchanged for another currency for immediate delivery or settlement. In this case, the spot rate is 113 yen per dollar, which means that one can currently exchange one dollar for 113 Japanese yen. The other options (forward rate, par rate, 113 rate) do not accurately describe the current exchange rate.

You Check the Yahoo