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Spot Exchange Rate |
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Spot Exchange Rate The rate of a foreign-exchange contract for immediate delivery. Also known as "benchmark rates", "straightforward rates" or "outright rates", spot rates represent the price that a buyer expects to pay for a foreign currency in another currency. Notes: Though the spot exchange rate is said to be settled immediately, the globally accepted settlement cycle for foreign-exchange contracts is two days. Foreign-exchange contracts are therefore settled on the second day after the day the deal is made. |
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| He continues, "Fed Chairman Bernanke may feel a need to reestablish credibility with financial markets, however, so we think there is a fair chance the Fed will raise its benchmark rate again in June. For the week ending May 4, the company had the benchmark rate at 6. The benchmark rate, despite an overall trend toward reductions in recent years, remained at 18% at press time). |
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benchmark rate
