Par of exchange. The par of foreign exchange is the fixed intr1nsic value of the currency unit
(monetary unit) of one country expressed in the terms of the currency of another country which
uses the same metal as a standard of value. Thus, $1 in United States gold money is 4.11 shillings
or 4 shillings 1.31 pence in English gold money or 5 francs 18.26 centimes in French gold money
or 4 reichsmarks (marks) 19.79 pfennigs in German gold money or 2 guilders (florins) 48.78 cents
in Netherlands (Holland) gold money, and so on.