ELI5: Explain Like I'm 5

Exchange rate

Exchange rate is like a price for money. It is the amount of one country's currency that you need to buy the currency from another country. For example, if the exchange rate between the US and Canada is one US dollar for one Canadian dollar, that means to buy one Canadian dollar you will need to give one US dollar. Exchange rate are always changing because the value of different countries' currencies is always changing.