Word forms: (regular plural) spot rates
noun (Finance: Foreign exchange) The spot rate is the exchange rate for a currency at the current time. ⇒ Bank notes are normally priced at a premium to the current spot rate for a currency. ⇒ If foreign currency markets are efficient, the forward rate should reflect what market participants expect the future spot rate for a currency to be. ⇒ The spot rate is the exchange rate for a currency at the current time.
Collins English Dictionary. Copyright © Harper Collins Publishers