Exchange rate between British pound sterling and the U.S. dollar.
1. Informal; the exchange rate between the British pound and the U.S. dollar. This term is used by currency traders, and it originates from the transatlantic cables used to wire the exchange rate between the two currencies in the 19th century.
Thus, for more than thirty years, until 1975, the federal government secretly collected every international telegram sent to and received by every American, in one of the most sweeping surveillance operations in U.S.
In March 2013, BSNL announced the cessation of all international telegrams. Even then, Times of India reported, BSNL suffered losses of 17 million rupees (around US $290,000) in the last two fiscal years.