Forex Spot Rate
a.k.a. Spot rate, Currency spot rate, Spot
The current exchange rate for swapping currencies now, with standard settlement in two business days for…
In plain English
The current exchange rate for swapping currencies now, with standard settlement in two business days for most pairs.
The spot rate is today's price for currency. 'Spot' trades formally settle two business days later (one for some pairs, like USD/CAD), which is quick enough to count as 'now'.
The rates on your trading screen are spot rates. Forward and futures prices are built from them, adjusted for interest rates.
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