Fixed exchange. If foreign exchange is quoted in the money of the country where issued, but is
payable in the money of the country where collection is to be made, it is called fixed exchange. For
instance, exchange on London is quoted in dollars in New York and is, therefore, fixed exchange.
The pound sterling is the basis and the amount in dollars (and cents) fluctuates instead of the
pound sterling. The opposite of fixed exchange is movable exchange; see Movable exchange.
payable in the money of the country where collection is to be made, it is called fixed exchange. For
instance, exchange on London is quoted in dollars in New York and is, therefore, fixed exchange.
The pound sterling is the basis and the amount in dollars (and cents) fluctuates instead of the
pound sterling. The opposite of fixed exchange is movable exchange; see Movable exchange.
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