historical exchange rate. Definition. In accounting, the exchange rate of a currency at the time an asset was acquired or a liability was incurred. In currency trading, the average exchange rate of a currency pair such as the dollar and the euro over a standard period such as 100 days or one year.Where is the best place to exchange foreign currency?
Visit a nearby large branch or ask your hotel concierge about the best local banks for exchanging currency. If your bank is affiliated with the foreign bank, such as a PNC branch, you may be able to exchange funds without added fees.