A market based exchange rate will change whenever the values of either of the two component currencies change. The exchange rates are very vulnerable and varying from time to time so there is no fixed rate for any country. the current rate of USDEUR is going at -0.25%, the USDGBP, USDJPY, USDCAD and the USDHKD follows on with -0.16%, -0.18%, -0.04% and -0.02% respectively. These forex prices are intended only as a guide to what the actual forex market is quoting.
Before we can get
on with the current Forex Exchange rates, it is always justified, rather important to know something about how the system works. Just like the old barter system of money lending and borrowing, here too people buy a certain amount of the currency of their choice, say for example 100 USD. In return an equivalent amount of another currency is lent out like maybe the European pound. As already mentioned, there are predefined Forex Exchange rates for each currency couple or pair, the difference in the values at the time a trader buys and at the time he or she sells it is what counts for the profit or loss.