2. Foreign exchange rate quotations An exchange rate is the price of one country's currency expressed in another country's currency. The exchange rates of the euro () and the Japanese yen () relative to the U.S. dollar ($) are listed as follows: Spot Rate 0.7957 / $1 102.5600/$1 Euro Yen When exchange rates are stated as quotation, the foreign exchange rate an indirect number of American dollars that can one unit of domestic currency l a direct ith