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Official Rate
(redirected from Official Rates)

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Official Rate
1. In foreign exchange, the exchange rate set by the local government. This especially applies to pegged currencies, but countries with floating currencies may also set an official exchange rate for a given day.

2. The rate of inflation as set by the local government. Official rates of inflation may be accurate or not, depending on how they are calculated and whether political consideration influences the calculations.
official rate
In foreign exchange trading, the lawful rate at which an exchange rate is set.
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