par of exchange

Definition of par of exchange

: the value of the monetary unit of one country expressed in terms of the monetary unit of another country using a given standard of value (as purchasing power) specifically : par entry 1 sense 1a

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Cite this Entry

“Par of exchange.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/par%20of%20exchange. Accessed 25 Oct. 2021.

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