par of exchange definition

  • noun:
    • the set up value of the coin or standard of worth of one country whenever expressed into the coin or standard of some other, as the value of the lb sterling into the currency of France or perhaps the united states of america. The par of change hardly ever differs, and serves as a measure for the increase and fall of trade this is certainly afflicted with the need and provide. Exchange are at par whenever, including, a bill in nyc, the payment of one hundred pounds sterling in London, can be purchased for the sum. Exchange is within favor of a spot when it can be bought here at or above par.
    • See under Exchange.

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