2013-38 How we define exchange rates

The exchange rate is the price of one currency in terms of a foreign currency.
As in:

• the exchange rate of the Kuwaiti dollar in terms of the Vietnamese dong (KWDVND=X) is almost 75000 of dongs for one dollar.
• the exchange rate of the Chilean peso in terms of the Canadian dollar (CLPCAD=X) is about 2/10th of a cent for one peso
• the exchange rate of the Canadian dollar in terms of the Chilean peso (CADCLP=X) - well, check it yourself or see the previous posting.