What is an example of Spot Exchange Rate?

An importer converts Mexican pesos to dollars at the spot rate to pay an import invoice due today.

Financial

Spot Exchange Rate

Current exchange rate for immediate currency purchase/sale, used as reference for foreign trade operations.

The spot exchange rate is the currency conversion rate for immediate settlement operations (typically T+2). It is the most common reference for invoicing foreign trade operations.

Examples

An importer converts Mexican pesos to dollars at the spot rate to pay an import invoice due today.

Related terms

Valuation

Customs Exchange Rate

The official exchange rate published by the Bank of Mexico to convert foreign-currency customs value to Mexican pesos. The rate effective on the pedimento payment date applies.

Financial

FIX Exchange Rate

Reference exchange rate published by Banxico, determined from institutional foreign exchange market quotes. Different from the customs exchange rate; used for UDI obligations and financial reporting.

Trade

International Payment Terms

Agreed conditions between buyer and seller regarding when, how, and in which currency payment will be made for a foreign trade transaction.

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