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The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.

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In some areas of Europe and in the retail market in the United Kingdom, EUR and GBP are reversed so that GBP is quoted as the fixed currency to the euro.

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In order to determine which is the fixed currency when neither currency is on the above list (i.e.In finance, an exchange rate (also known as a foren-exchange rate, forex rate, ER, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another.

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Both are "other"), market convention is to use the fixed currency which gives an exchange rate greater than 1.000.

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