Statrys Forex 101: What is a Spot Rate?
Find out what the Forex spot rate is and why you’re probably more familiar with it than you think.
In this episode of Statrys Forex 101, Jonathan Cusimano, Head of FX at Statrys, breaks down what an FX spot rate is and why it matters for businesses exchanging currencies. If you’ve ever converted money and wondered which rate you were actually getting, this video clarifies the concept in simple terms.
Jonathan explains how spot rates apply to immediate currency exchanges and how they differ from other FX rates used for future transactions.
Key Takeaways
- What an FX spot rate is and when it applies
- Why it’s called a “spot” rate
- How spot rates are used for immediate currency exchanges
- The difference between spot rates and forward rates
- Why understanding spot rates matters for businesses dealing in multiple currencies
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